Teachers Retirement System of The State of Kentucky Reduces Stake in Tapestry, Inc. $TPR

by · The Cerbat Gem

Teachers Retirement System of The State of Kentucky cut its stake in Tapestry, Inc. (NYSE:TPR – Free Report) by 24.8% in the third quarter, Holdings Channel reports. The fund owned 290,399 shares of the luxury accessories retailer’s stock after selling 96,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Tapestry were worth $32,879,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TPR. Cloud Capital Management LLC acquired a new stake in Tapestry during the third quarter worth about $26,000. Vestor Capital LLC purchased a new stake in shares of Tapestry in the 2nd quarter valued at approximately $27,000. Johnson Financial Group Inc. acquired a new stake in shares of Tapestry during the 2nd quarter worth approximately $39,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Tapestry during the 2nd quarter valued at approximately $45,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Tapestry during the 2nd quarter valued at approximately $52,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on TPR shares. Guggenheim began coverage on Tapestry in a research report on Tuesday, December 9th. They issued a “neutral” rating for the company. Sanford C. Bernstein reissued an “outperform” rating and set a $170.00 price objective on shares of Tapestry in a research report on Friday, February 6th. Wells Fargo & Company boosted their price objective on shares of Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Evercore increased their target price on Tapestry from $129.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.00.

Get Our Latest Analysis on Tapestry

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 2,147 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $153.47, for a total transaction of $329,500.09. Following the completion of the sale, the vice president directly owned 18,475 shares in the company, valued at $2,835,358.25. This represents a 10.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $154.87, for a total value of $7,556,881.65. Following the completion of the transaction, the chief executive officer directly owned 671,193 shares in the company, valued at $103,947,659.91. This trade represents a 6.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 165,539 shares of company stock valued at $25,364,406 in the last quarter. Insiders own 1.32% of the company’s stock.

Tapestry Trading Up 0.7%

NYSE:TPR opened at $156.59 on Tuesday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $161.97. The stock has a fifty day moving average price of $138.69 and a two-hundred day moving average price of $120.20. The stock has a market capitalization of $31.70 billion, a price-to-earnings ratio of 64.71, a PEG ratio of 1.86 and a beta of 1.55.

Tapestry (NYSE:TPR – Get Free Report) last posted its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.49. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the company earned $2.00 earnings per share. Tapestry’s revenue was up 14.0% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 6th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. Tapestry’s dividend payout ratio (DPR) is currently 66.12%.

Tapestry declared that its board has approved a share 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 repurchase up to 4.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Tapestry Profile

(Free Report)

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.

Featured Articles

Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry, Inc. (NYSE:TPR – Free Report).