Sterling Capital Management LLC Buys 5,278 Shares of Tapestry, Inc. $TPR

Sterling Capital Management LLC raised its stake in Tapestry, Inc. (NYSE:TPR) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,416 shares of the luxury accessories retailer’s stock after purchasing an additional 5,278 shares during the period. Sterling Capital Management LLC’s holdings in Tapestry were worth $9,257,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. 1858 Wealth Management LLC boosted its holdings in shares of Tapestry by 2.5% during the 2nd quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock worth $337,000 after buying an additional 95 shares during the period. Convergence Financial LLC lifted its position in Tapestry by 3.0% during the second quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock worth $297,000 after acquiring an additional 98 shares during the last quarter. Earned Wealth Advisors LLC lifted its position in Tapestry by 1.6% during the second quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock worth $641,000 after acquiring an additional 116 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Tapestry by 27.2% during the first quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer’s stock worth $50,000 after acquiring an additional 153 shares during the period. Finally, Harbour Investments Inc. grew its position in shares of Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after purchasing an additional 197 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Trading Down 9.5%

Shares of Tapestry stock opened at $98.88 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a 12-month low of $49.84 and a 12-month high of $118.56. The company has a market capitalization of $20.47 billion, a price-to-earnings ratio of 156.95, a PEG ratio of 2.72 and a beta of 1.71. The firm’s 50-day moving average price is $110.91 and its two-hundred day moving average price is $96.89.

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

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.6%. Tapestry’s dividend payout ratio (DPR) is presently 253.97%.

Tapestry declared that its board has approved a stock repurchase plan on Thursday, November 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the luxury accessories retailer to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Raymond James Financial lifted their price target on Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Sanford C. Bernstein reissued an “outperform” rating and set a $112.00 target price on shares of Tapestry in a report on Friday, August 15th. Cowen reissued a “buy” rating on shares of Tapestry in a research report on Thursday, August 7th. Robert W. Baird set a $130.00 price target on shares of Tapestry in a research note on Wednesday, October 29th. Finally, Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.35.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the transaction, the vice president owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was 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 approximately $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.32% of the stock is currently owned by insiders.

About Tapestry

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.