249,152 Shares in Tapestry, Inc. $TPR Acquired by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd bought a new position in Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 249,152 shares of the luxury accessories retailer’s stock, valued at approximately $21,704,000.

Several other institutional investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in shares of Tapestry in the first quarter worth $59,133,000. AQR Capital Management LLC raised its holdings in shares of Tapestry by 47.4% in the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock valued at $177,405,000 after acquiring an additional 838,057 shares in the last quarter. Aviva PLC purchased a new stake in shares of Tapestry in the 2nd quarter valued at about $67,612,000. Samlyn Capital LLC boosted its position in shares of Tapestry by 50.2% during the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock valued at $138,865,000 after acquiring an additional 658,889 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Tapestry by 2.4% during the second quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock worth $2,274,536,000 after purchasing an additional 606,686 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

NYSE TPR opened at $102.23 on Friday. The company has a 50-day simple moving average of $110.64 and a two-hundred day simple moving average of $99.28. Tapestry, Inc. has a 12-month low of $54.98 and a 12-month high of $118.56. The firm has a market cap of $20.92 billion, a price-to-earnings ratio of 162.26, a PEG ratio of 2.72 and a beta of 1.71. 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 (NYSE:TPR) last released its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. The company had revenue of $1.70 billion during 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%.Tapestry’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

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

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Friday, December 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, December 5th. Tapestry’s dividend payout ratio is currently 142.86%.

Insider Activity at Tapestry

In other Tapestry news, insider David E. Howard sold 25,029 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $102.50, for a total value of $2,565,472.50. Following the completion of the transaction, the insider directly owned 55,354 shares in the company, valued at approximately $5,673,785. This represents a 31.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the firm’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 sale, the vice president directly owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 73,231 shares of company stock valued at $7,530,325 in the last 90 days. 1.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TPR. Sanford C. Bernstein raised their target price on shares of Tapestry from $112.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Evercore ISI increased their price target on shares of Tapestry from $125.00 to $129.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Cowen reaffirmed a “buy” rating on shares of Tapestry in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 10th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and an average price target of $119.26.

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.