Trustmark Bank Trust Department Raises Holdings in Tapestry, Inc. $TPR

Trustmark Bank Trust Department lifted its position in shares of Tapestry, Inc. (NYSE:TPR) by 9.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 43,535 shares of the luxury accessories retailer’s stock after acquiring an additional 3,920 shares during the quarter. Trustmark Bank Trust Department’s holdings in Tapestry were worth $3,823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TPR. LPL Financial LLC boosted its position in Tapestry by 10.1% during the first quarter. LPL Financial LLC now owns 134,611 shares of the luxury accessories retailer’s stock worth $9,478,000 after purchasing an additional 12,353 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Tapestry by 2.3% during the 1st quarter. Mackenzie Financial Corp now owns 10,110 shares of the luxury accessories retailer’s stock valued at $712,000 after buying an additional 231 shares in the last quarter. Meeder Advisory Services Inc. bought a new position in Tapestry in the 1st quarter worth approximately $241,000. Federated Hermes Inc. grew its stake in Tapestry by 4,221.4% in the 1st quarter. Federated Hermes Inc. now owns 30,336 shares of the luxury accessories retailer’s stock valued at $2,136,000 after buying an additional 29,634 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in Tapestry during the 1st quarter valued at $415,000. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TPR. Cowen reaffirmed a “buy” rating on shares of Tapestry in a report on Thursday, August 7th. Robert W. Baird set a $130.00 target price on Tapestry in a research note on Wednesday, October 29th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $125.00 target price on shares of Tapestry in a report on Friday, November 7th. Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a report on Monday, November 10th. Finally, BTIG Research began coverage on shares of Tapestry in a research report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 price objective for the company. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.26.

Insider Activity at Tapestry

In related news, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the transaction, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Kahn sold 10,344 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $107.00, for a total value of $1,106,808.00. Following the completion of the transaction, the chief executive officer directly owned 131,815 shares in the company, valued at approximately $14,104,205. This represents a 7.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 126,222 shares of company stock worth $13,168,985 in the last three months. 1.32% of the stock is owned by insiders.

Tapestry Stock Performance

NYSE:TPR opened at $108.65 on Friday. The stock has a market cap of $22.24 billion, a P/E ratio of 172.46, a PEG ratio of 2.72 and a beta of 1.71. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The business’s 50-day moving average price is $110.35 and its two-hundred day moving average price is $100.72. Tapestry, Inc. has a twelve month low of $58.39 and a twelve month high of $118.56.

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, topping the consensus estimate of $1.25 by $0.13. The company had revenue of $1.70 billion for 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%. Tapestry’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, equities analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

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

Tapestry declared that its Board of Directors has authorized a share 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 repurchase up to 4.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.