Verdence Capital Advisors LLC Has $2.56 Million Stock Holdings in Tapestry, Inc. $TPR

Verdence Capital Advisors LLC increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 68.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,300 shares of the luxury accessories retailer’s stock after buying an additional 9,055 shares during the period. Verdence Capital Advisors LLC’s holdings in Tapestry were worth $2,564,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vestor Capital LLC bought a new stake in shares of Tapestry during the 2nd quarter valued at $27,000. CVA Family Office LLC increased its stake 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 purchasing an additional 263 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Tapestry in the second quarter worth $37,000. Johnson Financial Group Inc. acquired a new stake in Tapestry in the second quarter worth $39,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Tapestry during the second quarter worth $45,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TPR shares. Evercore ISI raised their price target on Tapestry from $125.00 to $129.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. BTIG Research initiated coverage on Tapestry in a research note on Tuesday, October 14th. They issued a “buy” rating and a $140.00 price target on the stock. The Goldman Sachs Group upped their price objective on Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Robert W. Baird set a $140.00 price objective on Tapestry in a report on Wednesday, December 17th. Finally, Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and an average price target of $126.05.

Tapestry Stock Performance

Shares of TPR opened at $130.89 on Tuesday. The company has a market cap of $26.79 billion, a PE ratio of 116.86, a price-to-earnings-growth ratio of 2.69 and a beta of 1.63. The firm has a 50-day moving average of $120.05 and a 200-day moving average of $111.92. Tapestry, Inc. has a one year low of $58.39 and a one year high of $136.04. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.52 and a quick ratio of 0.93.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business posted $0.84 EPS. Tapestry’s revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Friday, December 5th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, December 5th. Tapestry’s payout ratio is currently 142.86%.

Tapestry declared that its Board of Directors has authorized a share buyback program on Thursday, November 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the luxury accessories retailer to buy up to 4.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Tapestry

In related news, CFO Scott A. Roe sold 18,794 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $104.85, for a total value of $1,970,550.90. Following the sale, the chief financial officer owned 148,149 shares in the company, valued at approximately $15,533,422.65. This represents a 11.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Kahn sold 29,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $102.83, for a total value of $2,982,070.00. Following the sale, the chief executive officer directly owned 86,736 shares of the company’s stock, valued at $8,919,062.88. This represents a 25.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 115,485 shares of company stock worth $12,034,058 in the last three months. 1.32% of the stock is owned by insiders.

About Tapestry

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.