Yousif Capital Management LLC Decreases Stock Holdings in Tapestry, Inc. $TPR

Yousif Capital Management LLC reduced its position in shares of Tapestry, Inc. (NYSE:TPR) by 13.7% in the third quarter, Holdings Channel reports. The fund owned 29,373 shares of the luxury accessories retailer’s stock after selling 4,670 shares during the quarter. Yousif Capital Management LLC’s holdings in Tapestry were worth $3,326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Tapestry by 2.4% during the second quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock valued at $2,274,536,000 after purchasing an additional 606,686 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tapestry by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock worth $482,125,000 after buying an additional 158,782 shares in the last quarter. SRS Investment Management LLC increased its holdings in shares of Tapestry by 12.4% in the 2nd quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock worth $468,275,000 after buying an additional 589,000 shares during the last quarter. Schroder Investment Management Group raised 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 buying an additional 3,775,593 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Tapestry by 36.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock valued at $311,388,000 after acquiring an additional 939,227 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Price Performance

Tapestry stock opened at $131.23 on Friday. 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 stock has a market cap of $26.86 billion, a price-to-earnings ratio of 117.17, a price-to-earnings-growth ratio of 2.68 and a beta of 1.65. The firm has a 50-day moving average of $113.43 and a two-hundred day moving average of $106.37. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $131.40.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.13. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry declared that its board has initiated a share buyback plan 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 purchase up to 4.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Friday, December 5th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, December 5th. Tapestry’s dividend payout ratio is currently 142.86%.

Insider Buying and Selling at Tapestry

In other news, insider Denise Kulikowsky sold 583 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $115.17, for a total transaction of $67,144.11. Following the transaction, the insider owned 19,285 shares in the company, valued at approximately $2,221,053.45. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of Tapestry stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $105.31, for a total value of $3,342,012.85. Following the completion of the sale, the chief executive officer owned 667,233 shares of the company’s stock, valued at $70,266,307.23. The trade was a 4.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 115,485 shares of company stock worth $12,034,058. Insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of several analyst reports. Morgan Stanley raised their price objective on Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, October 8th. Jefferies Financial Group raised their target price on shares of Tapestry from $135.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Guggenheim initiated coverage on shares of Tapestry in a research report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Finally, The Goldman Sachs Group boosted their target price on Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.00.

About Tapestry

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.