Mitsubishi UFJ Trust & Banking Corp Raises Holdings in Tapestry, Inc. $TPR

Mitsubishi UFJ Trust & Banking Corp raised its holdings in Tapestry, Inc. (NYSE:TPR) by 344.9% during the third quarter, Holdings Channel.com reports. The firm owned 216,083 shares of the luxury accessories retailer’s stock after purchasing an additional 167,515 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Tapestry were worth $24,465,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TPR. UniSuper Management Pty Ltd boosted its stake in Tapestry by 14.6% during the third quarter. UniSuper Management Pty Ltd now owns 27,453 shares of the luxury accessories retailer’s stock worth $3,108,000 after buying an additional 3,505 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Tapestry by 5.0% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 7,292 shares of the luxury accessories retailer’s stock worth $826,000 after purchasing an additional 346 shares during the period. Teacher Retirement System of Texas increased its holdings in Tapestry by 105.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 124,927 shares of the luxury accessories retailer’s stock valued at $14,144,000 after purchasing an additional 64,042 shares during the last quarter. iA Global Asset Management Inc. raised its holdings in shares of Tapestry by 87.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 36,484 shares of the luxury accessories retailer’s stock valued at $4,131,000 after buying an additional 16,995 shares during the period. Finally, Olympiad Research LP purchased a new stake in Tapestry during the third quarter worth about $217,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Trading Down 2.9%

NYSE:TPR opened at $126.22 on Tuesday. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $136.04. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 5.95. The stock’s 50 day simple moving average is $122.80 and its 200-day simple moving average is $113.18. The firm has a market cap of $25.83 billion, a P/E ratio of 112.70, a PEG ratio of 2.23 and a beta of 1.63.

Tapestry (NYSE:TPR) last posted its quarterly earnings data 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 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 quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm posted $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Equities analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

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

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Friday, December 5th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, December 5th. Tapestry’s dividend payout ratio is currently 142.86%.

Insider Transactions at Tapestry

In other Tapestry news, insider David E. Howard sold 25,029 shares of Tapestry stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $102.50, for a total value of $2,565,472.50. Following the sale, the insider owned 55,354 shares of the company’s stock, valued at approximately $5,673,785. The trade was 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, CEO Todd Kahn sold 10,344 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $107.00, for a total value of $1,106,808.00. Following the transaction, the chief executive officer directly owned 131,815 shares of the company’s stock, valued at approximately $14,104,205. This trade represents a 7.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 115,485 shares of company stock valued at $12,034,058 over the last 90 days. Insiders own 1.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TPR. Guggenheim assumed coverage on Tapestry in a research report on Tuesday, December 9th. They set a “neutral” rating on the stock. Raymond James Financial upped their price target on Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. JPMorgan Chase & Co. raised their price objective on Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. BTIG Research began coverage on shares of Tapestry in a report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 target price on the stock. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $150.00 price objective on shares of Tapestry in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and an average price target of $129.11.

Tapestry Company 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.