Tabor Asset Management LP Has $4.32 Million Stake in Tapestry, Inc. $TPR

Tabor Asset Management LP lowered its position in shares of Tapestry, Inc. (NYSE:TPR) by 24.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,139 shares of the luxury accessories retailer’s stock after selling 16,016 shares during the period. Tapestry comprises about 2.9% of Tabor Asset Management LP’s portfolio, making the stock its 15th biggest position. Tabor Asset Management LP’s holdings in Tapestry were worth $4,315,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. First PREMIER Bank bought a new stake in shares of Tapestry during the second quarter worth about $25,000. Flaharty Asset Management LLC bought a new position in Tapestry in the 1st quarter valued at approximately $25,000. Harbour Investments Inc. boosted its position in Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after buying an additional 197 shares during the period. CVA Family Office LLC grew its holdings in Tapestry by 224.8% during the 2nd quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after acquiring an additional 263 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Tapestry in the 1st quarter valued at approximately $29,000. 90.77% of the stock is currently owned by institutional investors.

Tapestry Trading Up 4.9%

NYSE TPR opened at $103.67 on Friday. The stock has a market capitalization of $21.46 billion, a P/E ratio of 164.55, a P/E/G ratio of 2.72 and a beta of 1.71. The business has a 50 day simple moving average of $110.95 and a 200 day simple moving average of $97.17. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. Tapestry, Inc. has a one year low of $49.84 and a one year high of $118.56.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the luxury accessories retailer to buy up to 4.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Friday, December 5th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 annualized dividend and a yield of 1.5%. Tapestry’s dividend payout ratio is currently 253.97%.

Insiders Place Their Bets

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the transaction, the director owned 8,153 shares of the company’s stock, valued at $865,767.07. This represents a 58.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the sale, the vice president directly owned 21,098 shares of the company’s stock, valued at $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TPR. Telsey Advisory Group reiterated an “outperform” rating and set a $125.00 price target on shares of Tapestry in a report on Friday. Wells Fargo & Company cut their target price on Tapestry from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday. Evercore ISI upped their price target on Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday. Wall Street Zen cut Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Finally, Cowen reaffirmed a “buy” rating on shares of Tapestry in a research note on Thursday, August 7th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and an average target price of $116.25.

Tapestry Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.