Mirae Asset Global Investments Co. Ltd. Increases Position in Tapestry, Inc. $TPR

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 21.0% during the third quarter, Holdings Channel reports. The institutional investor owned 29,224 shares of the luxury accessories retailer’s stock after acquiring an additional 5,063 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Tapestry were worth $3,309,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Schroder Investment Management Group lifted its position in shares of Tapestry by 1,661.6% during the 2nd quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock valued at $351,487,000 after acquiring an additional 3,775,593 shares during the period. Norges Bank acquired a new stake in shares of Tapestry in the 2nd quarter worth approximately $227,248,000. Massachusetts Financial Services Co. MA increased its stake in Tapestry by 250.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock valued at $277,295,000 after purchasing an additional 1,750,566 shares in the last quarter. AQR Capital Management LLC raised its holdings in Tapestry by 36.0% during the second quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock worth $311,388,000 after purchasing an additional 939,227 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Tapestry by 2,547.4% during the second quarter. Marshall Wace LLP now owns 955,667 shares of the luxury accessories retailer’s stock worth $83,917,000 after purchasing an additional 919,569 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TPR. BTIG Research began coverage on Tapestry in a research report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Robert W. Baird set a $140.00 target price on shares of Tapestry in a research report on Wednesday, December 17th. Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and lowered their price target for the company from $142.00 to $138.00 in a research report on Wednesday, January 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $129.95.

Insider Transactions at Tapestry

In other news, insider Denise Kulikowsky sold 583 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $115.17, for a total transaction of $67,144.11. Following the completion of the transaction, the insider owned 19,285 shares of the company’s stock, valued at $2,221,053.45. This represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott A. Roe sold 18,794 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $104.85, for a total transaction of $1,970,550.90. Following the completion of the sale, the chief financial officer directly owned 148,149 shares in the company, valued at $15,533,422.65. This represents a 11.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 115,485 shares of company stock valued at $12,034,058. Corporate insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

Shares of NYSE TPR opened at $129.53 on Tuesday. The company has a 50-day simple moving average of $125.13 and a 200-day simple moving average of $114.11. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.52 and a quick ratio of 0.93. The company has a market cap of $26.51 billion, a PE ratio of 115.65, a price-to-earnings-growth ratio of 2.17 and a beta of 1.63. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $136.04.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. Tapestry’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, equities analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

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

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

Tapestry Profile

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.