Resona Asset Management Co. Ltd. Purchases 62,180 Shares of Tapestry, Inc. $TPR

Resona Asset Management Co. Ltd. grew its position in Tapestry, Inc. (NYSE:TPR) by 2,802.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,399 shares of the luxury accessories retailer’s stock after purchasing an additional 62,180 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Tapestry were worth $7,273,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TPR. 1858 Wealth Management LLC lifted its stake in Tapestry by 2.5% in the 2nd quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock valued at $337,000 after acquiring an additional 95 shares in the last quarter. Convergence Financial LLC raised its holdings in shares of Tapestry by 3.0% in the second quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock valued at $297,000 after purchasing an additional 98 shares during the last quarter. Earned Wealth Advisors LLC lifted its position in shares of Tapestry by 1.6% in the second quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock worth $641,000 after purchasing an additional 116 shares in the last quarter. Blue Trust Inc. boosted its holdings in Tapestry by 19.7% during the third quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock worth $84,000 after purchasing an additional 122 shares during the last quarter. Finally, Wedmont Private Capital grew its position in Tapestry by 3.3% in the third quarter. Wedmont Private Capital now owns 4,352 shares of the luxury accessories retailer’s stock valued at $502,000 after purchasing an additional 139 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Performance

Shares of NYSE TPR opened at $126.22 on Tuesday. 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 company has a market capitalization of $25.83 billion, a P/E ratio of 112.70, a P/E/G ratio of 2.23 and a beta of 1.63. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $136.04. The stock has a 50 day moving average of $122.80 and a 200-day moving average of $113.18.

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 analysts’ consensus estimates of $1.25 by $0.13. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.The business 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 business earned $0.84 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, equities research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

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

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Friday, December 5th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, December 5th. Tapestry’s dividend payout ratio (DPR) is currently 142.86%.

Insider Buying and Selling at Tapestry

In other Tapestry news, CFO Scott A. Roe sold 18,794 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $104.85, for a total transaction 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 $15,533,422.65. This trade represents a 11.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Todd Kahn sold 10,344 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $107.00, for a total value of $1,106,808.00. Following the sale, the chief executive officer owned 131,815 shares of the company’s stock, valued at approximately $14,104,205. This represents a 7.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 115,485 shares of company stock worth $12,034,058 in the last ninety days. Insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the topic of several analyst reports. BTIG Research began coverage on shares of Tapestry in a research report on Tuesday, October 14th. They set a “buy” rating and a $140.00 price target on the stock. Robert W. Baird set a $140.00 target price on Tapestry in a report on Wednesday, December 17th. Guggenheim initiated coverage on Tapestry in a research note on Tuesday, December 9th. They issued a “neutral” rating for the company. Wells Fargo & Company boosted their price target on Tapestry from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Finally, Citigroup increased their price objective on Tapestry from $124.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and a consensus target price of $129.11.

Tapestry 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.