Citigroup Inc. Lowers Stock Position in Tapestry, Inc. $TPR

Citigroup Inc. decreased its position in Tapestry, Inc. (NYSE:TPR) by 12.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,073,814 shares of the luxury accessories retailer’s stock after selling 148,698 shares during the period. Citigroup Inc. owned about 0.52% of Tapestry worth $94,292,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TPR. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Tapestry by 40.2% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 258,262 shares of the luxury accessories retailer’s stock valued at $22,678,000 after purchasing an additional 73,998 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Tapestry in the second quarter valued at approximately $981,000. Kingsview Wealth Management LLC increased its position in shares of Tapestry by 8.9% in the second quarter. Kingsview Wealth Management LLC now owns 47,685 shares of the luxury accessories retailer’s stock valued at $4,187,000 after buying an additional 3,889 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of Tapestry during the 2nd quarter worth approximately $256,000. Finally, Creative Planning lifted its position in shares of Tapestry by 14.4% during the 2nd quarter. Creative Planning now owns 36,500 shares of the luxury accessories retailer’s stock valued at $3,205,000 after buying an additional 4,584 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tapestry

In other 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 owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. The trade was a 58.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were 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 $2,089,756.90. This represents a 27.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is owned by insiders.

Analyst Ratings Changes

TPR has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Barclays boosted their target price on shares of Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. The Goldman Sachs Group raised their price target on shares of Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Sanford C. Bernstein boosted their price objective on Tapestry from $112.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Cowen restated a “buy” rating on shares of Tapestry in a research report on Thursday, August 7th. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $119.26.

Tapestry Stock Up 1.6%

TPR stock opened at $103.35 on Wednesday. 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 firm has a 50-day moving average of $110.76 and a two-hundred day moving average of $99.23. Tapestry, Inc. has a 12 month low of $54.98 and a 12 month high of $118.56. The company has a market cap of $21.15 billion, a price-to-earnings ratio of 164.04, a PEG ratio of 2.72 and a beta of 1.71.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business earned $0.84 earnings per share. The business’s revenue was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry announced that its board has approved a stock buyback plan 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 reacquire up to 4.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Friday, December 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. Tapestry’s dividend payout ratio (DPR) is 142.86%.

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.