Tapestry, Inc. $TPR Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management trimmed its position in shares of Tapestry, Inc. (NYSE:TPR) by 59.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,105 shares of the luxury accessories retailer’s stock after selling 69,461 shares during the quarter. Meritage Portfolio Management’s holdings in Tapestry were worth $5,446,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TPR. Woodline Partners LP raised its position in shares of Tapestry by 25.0% in the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after buying an additional 3,495 shares during the last quarter. Focus Partners Wealth boosted its position in Tapestry by 10.7% during the first quarter. Focus Partners Wealth now owns 21,934 shares of the luxury accessories retailer’s stock worth $1,544,000 after acquiring an additional 2,118 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Tapestry during the 1st quarter valued at about $493,000. Strs Ohio purchased a new stake in Tapestry during the 1st quarter valued at about $1,090,000. Finally, Canandaigua National Bank & Trust Co. acquired a new stake in Tapestry in the 2nd quarter valued at about $201,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TPR shares. Morgan Stanley boosted their target price on Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Raymond James Financial lifted their price objective on Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Wall Street Zen cut Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. JPMorgan Chase & Co. raised their target price on Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $150.00 price target on shares of Tapestry in a report on Wednesday, December 17th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $126.05.

Insider Transactions at Tapestry

In other news, insider Denise Kulikowsky sold 583 shares of Tapestry stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $115.17, for a total value of $67,144.11. Following the completion of the sale, the insider directly owned 19,285 shares of the company’s stock, valued at approximately $2,221,053.45. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David E. Howard sold 25,029 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $102.50, for a total value of $2,565,472.50. Following the completion of the sale, the insider owned 55,354 shares in the company, valued at $5,673,785. This represents a 31.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 115,485 shares of company stock worth $12,034,058 in the last three months. Company insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

NYSE TPR opened at $133.10 on Thursday. The stock has a fifty day simple moving average of $118.33 and a 200-day simple moving average of $110.84. 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 has a market cap of $27.24 billion, a PE ratio of 118.84, a P/E/G ratio of 2.76 and a beta of 1.63. Tapestry, Inc. has a twelve month low of $58.39 and a twelve month high of $136.04.

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

Tapestry Announces Dividend

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

Tapestry announced that its Board of Directors has initiated a share 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 usually a sign that the company’s board of directors believes its shares are undervalued.

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.