ING Groep NV Acquires 69,978 Shares of Tapestry, Inc. $TPR

ING Groep NV lifted its holdings in Tapestry, Inc. (NYSE:TPR) by 2,601.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,668 shares of the luxury accessories retailer’s stock after purchasing an additional 69,978 shares during the quarter. ING Groep NV’s holdings in Tapestry were worth $8,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Convergence Financial LLC increased its holdings in Tapestry by 3.0% in the 2nd quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock worth $297,000 after buying an additional 98 shares in the last quarter. Earned Wealth Advisors LLC grew its stake 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 acquiring an additional 116 shares during the period. Blue Trust Inc. grew its stake in shares of Tapestry by 19.7% in the third quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock worth $84,000 after acquiring an additional 122 shares during the period. Wedmont Private Capital raised its holdings in shares of Tapestry by 3.3% during 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 during the last quarter. Finally, 44 Wealth Management LLC lifted its position in Tapestry by 0.8% during the second quarter. 44 Wealth Management LLC now owns 19,018 shares of the luxury accessories retailer’s stock valued at $1,670,000 after purchasing an additional 142 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Stock Up 0.8%

NYSE TPR opened at $154.47 on Thursday. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $158.20. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. The company has a market capitalization of $31.27 billion, a P/E ratio of 63.83, a price-to-earnings-growth ratio of 1.89 and a beta of 1.63. The stock’s 50-day moving average price is $129.99 and its 200-day moving average price is $115.92.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.49. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.29 billion. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.00 EPS. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, equities research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, March 6th. Tapestry’s dividend payout ratio is presently 66.12%.

Tapestry declared that its board has authorized a stock buyback plan on Thursday, November 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the luxury accessories retailer to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TPR shares. Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and decreased their target price for the company from $142.00 to $138.00 in a research note on Wednesday, January 14th. BTIG Research upped their price objective on Tapestry from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 6th. TD Cowen reissued a “buy” rating on shares of Tapestry in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $170.00 price objective on shares of Tapestry in a research note on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

Insider Buying and Selling at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 31,735 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $105.31, for a total value of $3,342,012.85. Following the transaction, the chief executive officer directly owned 667,233 shares of the company’s stock, valued at approximately $70,266,307.23. The trade was a 4.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Denise Kulikowsky sold 583 shares of the company’s stock in a transaction that occurred 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 transaction, the insider owned 19,285 shares of the company’s stock, valued at $2,221,053.45. The trade was a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 155,300 shares of company stock valued at $18,059,660. 1.32% of the stock is currently owned by corporate insiders.

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.