TD Asset Management Inc Has $7.96 Million Stock Position in Tapestry, Inc. $TPR

TD Asset Management Inc raised its stake in Tapestry, Inc. (NYSE:TPR) by 124.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,655 shares of the luxury accessories retailer’s stock after buying an additional 50,200 shares during the period. TD Asset Management Inc’s holdings in Tapestry were worth $7,960,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in Tapestry by 47.4% in the first quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock valued at $177,405,000 after buying an additional 838,057 shares in the last quarter. Southpoint Capital Advisors LP boosted its position in Tapestry by 25.0% in the first quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the luxury accessories retailer’s stock valued at $176,025,000 after buying an additional 500,000 shares in the last quarter. Samlyn Capital LLC boosted its position in Tapestry by 50.2% in the first quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock valued at $138,865,000 after buying an additional 658,889 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Tapestry by 21.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,651,892 shares of the luxury accessories retailer’s stock valued at $116,310,000 after buying an additional 288,219 shares in the last quarter. Finally, WT Asset Management Ltd boosted its position in Tapestry by 140.6% in the first quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer’s stock valued at $110,870,000 after buying an additional 920,087 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Trading Up 0.2%

TPR opened at $116.70 on Monday. Tapestry, Inc. has a 1-year low of $43.07 and a 1-year high of $118.56. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The company has a market cap of $24.16 billion, a P/E ratio of 185.23, a price-to-earnings-growth ratio of 2.82 and a beta of 1.57. The company has a fifty day moving average price of $108.22 and a two-hundred day moving average price of $92.43.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.4%. This is a boost from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, September 5th. Tapestry’s dividend payout ratio is presently 253.97%.

Analyst Ratings Changes

TPR has been the topic of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating on shares of Tapestry in a report on Thursday, September 11th. Sanford C. Bernstein reiterated an “outperform” rating and set a $112.00 price target on shares of Tapestry in a report on Friday, August 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. BTIG Research initiated coverage on shares of Tapestry in a report on Tuesday, October 14th. They set a “buy” rating and a $140.00 price target on the stock. Finally, Bank of America lowered shares of Tapestry from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $95.00 to $115.00 in a report on Tuesday, July 29th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.00.

Insider Activity

In related news, Director Alan Ka Ming Lau sold 11,320 shares of the business’s 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 directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by insiders.

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.