Resona Asset Management Co. Ltd. Acquires 62,180 Shares of Tapestry, Inc. $TPR

Resona Asset Management Co. Ltd. increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 2,802.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,399 shares of the luxury accessories retailer’s stock after buying an additional 62,180 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Tapestry were worth $7,273,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TPR. Vestor Capital LLC bought a new position in shares of Tapestry in the second quarter worth about $27,000. CVA Family Office LLC raised its position in Tapestry by 224.8% in the 2nd quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after purchasing an additional 263 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Tapestry in the 2nd quarter worth approximately $37,000. Johnson Financial Group Inc. acquired a new position in Tapestry during the 2nd quarter worth $39,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Tapestry in the 2nd quarter valued at $45,000. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TPR shares. Wall Street Zen downgraded Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Telsey Advisory Group reissued an “outperform” rating and set a $150.00 price objective on shares of Tapestry in a report on Wednesday, December 17th. Wells Fargo & Company upped their target price on shares of Tapestry from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Guggenheim started coverage on shares of Tapestry in a research note on Tuesday, December 9th. They issued a “neutral” rating on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $129.11.

Insider Buying and Selling

In other news, insider Denise Kulikowsky sold 583 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $115.17, for a total transaction of $67,144.11. Following the sale, the insider owned 19,285 shares of the company’s stock, valued at $2,221,053.45. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of Tapestry stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $105.31, for a total value of $3,342,012.85. Following the transaction, the chief executive officer owned 667,233 shares in the company, valued at $70,266,307.23. This trade represents a 4.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 115,485 shares of company stock valued at $12,034,058. 1.32% of the stock is owned by company insiders.

Tapestry Stock Down 2.9%

Shares of NYSE TPR opened at $126.22 on Tuesday. The stock has a market cap of $25.83 billion, a P/E ratio of 112.70, a P/E/G ratio of 2.23 and a beta of 1.63. The firm has a 50 day moving average price of $122.80 and a 200 day moving average price of $113.18. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52. Tapestry, Inc. has a 52-week low of $58.39 and a 52-week high of $136.04.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, topping 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 company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business posted $0.84 earnings per share. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

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

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Friday, December 5th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, December 5th. Tapestry’s payout ratio is presently 142.86%.

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.