Tapestry, Inc. $TPR Shares Sold by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC reduced its stake in shares of Tapestry, Inc. (NYSE:TPR) by 26.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 30,737 shares of the luxury accessories retailer’s stock after selling 10,939 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Tapestry were worth $2,699,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TPR. Harbour Investments Inc. lifted 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 acquiring an additional 197 shares during the period. Flaharty Asset Management LLC acquired a new position in shares of Tapestry in the first quarter valued at about $25,000. First PREMIER Bank purchased a new position in shares of Tapestry in the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Tapestry during the first quarter worth about $29,000. Finally, CVA Family Office LLC boosted its position in Tapestry by 224.8% in the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock valued at $33,000 after buying an additional 263 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tapestry

In related news, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the sale, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the transaction, 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 position. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by insiders.

Tapestry Stock Up 4.9%

Shares of TPR opened at $103.67 on Monday. The firm has a market cap of $21.46 billion, a P/E ratio of 164.55, a PEG ratio of 2.72 and a beta of 1.71. Tapestry, Inc. has a 12 month low of $49.84 and a 12 month high of $118.56. The stock’s 50 day moving average is $110.95 and its two-hundred day moving average is $97.62. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.13. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the company posted $0.84 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry announced that its Board of Directors has initiated a share buyback 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 purchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be given a $0.40 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. Tapestry’s dividend payout ratio (DPR) is 142.86%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $142.00 to $147.00 and gave the stock an “overweight” rating in a report on Friday. Barclays upped their price target on shares of Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Evercore ISI lifted their price objective on Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, Bank of America cut Tapestry from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $95.00 to $115.00 in a report on Tuesday, July 29th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.25.

Tapestry Company 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.