KLP Kapitalforvaltning AS Purchases 117,900 Shares of Tapestry, Inc. $TPR

KLP Kapitalforvaltning AS grew its holdings in Tapestry, Inc. (NYSE:TPR) by 233.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 168,500 shares of the luxury accessories retailer’s stock after purchasing an additional 117,900 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.08% of Tapestry worth $19,078,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TPR. First PREMIER Bank acquired a new position in Tapestry in the second quarter valued at approximately $25,000. Vestor Capital LLC acquired a new position in shares of Tapestry in the 2nd quarter valued at $27,000. Flaharty Asset Management LLC acquired a new position in shares of Tapestry in the 1st quarter valued at $25,000. CVA Family Office LLC boosted its position 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 worth $33,000 after purchasing an additional 263 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Tapestry during the second quarter worth $37,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Down 1.6%

Tapestry stock opened at $131.00 on Thursday. The company has a 50 day moving average of $115.80 and a 200-day moving average of $109.18. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 5.95. Tapestry, Inc. has a twelve month low of $58.39 and a twelve month high of $133.99. The stock has a market capitalization of $26.81 billion, a PE ratio of 116.97, a price-to-earnings-growth ratio of 2.74 and a beta of 1.63.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. The business 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%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the business posted $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, equities research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

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

Tapestry Announces Dividend

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

Insider Activity at Tapestry

In related news, CEO Todd Kahn sold 29,000 shares of the stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $102.83, for a total transaction of $2,982,070.00. Following the completion of the transaction, the chief executive officer directly owned 86,736 shares in the company, valued at approximately $8,919,062.88. This trade represents a 25.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Denise Kulikowsky sold 583 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $115.17, for a total value of $67,144.11. Following the completion of the sale, the insider owned 19,285 shares in the company, valued at $2,221,053.45. The trade was a 2.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 115,485 shares of company stock valued at $12,034,058 over the last ninety days. Company insiders own 1.32% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Evercore ISI upped their target price on shares of Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Guggenheim began coverage on shares of Tapestry in a research report on Tuesday, December 9th. They set a “neutral” rating on the stock. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $150.00 price target on shares of Tapestry in a report on Tuesday. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.26.

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.