Scotia Capital Inc. Grows Stock Holdings in Tapestry, Inc. $TPR

Scotia Capital Inc. raised its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 38.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,607 shares of the luxury accessories retailer’s stock after purchasing an additional 8,975 shares during the quarter. Scotia Capital Inc.’s holdings in Tapestry were worth $2,863,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. First PREMIER Bank purchased a new stake in shares of Tapestry during the 2nd quarter valued at about $25,000. Vestor Capital LLC bought a new stake in Tapestry during the second quarter worth approximately $27,000. Flaharty Asset Management LLC bought a new stake in Tapestry during the first quarter worth approximately $25,000. Harbour Investments Inc. raised its position in Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after purchasing an additional 197 shares during the period. Finally, CVA Family Office LLC lifted its stake in shares of Tapestry by 224.8% in the 2nd 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 during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Tapestry Trading Down 1.9%

TPR stock opened at $108.65 on Monday. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $118.56. The firm’s 50-day moving average is $110.35 and its 200 day moving average is $100.84. The company has a market capitalization of $22.24 billion, a PE ratio of 172.46, a P/E/G ratio of 2.72 and a beta of 1.71. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31.

Tapestry (NYSE:TPR) last released its quarterly earnings data 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. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

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

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Friday, December 5th will be issued a $0.40 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. Tapestry’s payout ratio is presently 142.86%.

Insider Buying and Selling

In other Tapestry news, CFO Scott A. Roe sold 18,794 shares of the company’s 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 completion of the sale, the chief financial officer directly owned 148,149 shares in the company, valued at approximately $15,533,422.65. This represents a 11.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $105.31, for a total value of $3,342,012.85. Following the transaction, the chief executive officer directly owned 667,233 shares in the company, valued at $70,266,307.23. The trade was a 4.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 126,222 shares of company stock valued at $13,168,985 over the last 90 days. 1.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TPR. Evercore ISI boosted their target price on Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Jefferies Financial Group increased their target price on shares of Tapestry from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Robert W. Baird set a $130.00 price target on shares of Tapestry in a research note on Wednesday, October 29th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $125.00 price target on shares of Tapestry in a report on Friday, November 7th. Eighteen 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.26.

Tapestry Company 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.