King Luther Capital Management Corp Sells 4,699 Shares of Tapestry, Inc. $TPR

King Luther Capital Management Corp decreased its holdings in Tapestry, Inc. (NYSE:TPR) by 28.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,829 shares of the luxury accessories retailer’s stock after selling 4,699 shares during the period. King Luther Capital Management Corp’s holdings in Tapestry were worth $1,339,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cloud Capital Management LLC purchased a new position in Tapestry in the 3rd quarter worth about $26,000. Vestor Capital LLC purchased a new stake in shares of Tapestry during the 2nd quarter valued at about $27,000. CVA Family Office LLC grew its stake in shares of Tapestry by 224.8% in the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after acquiring an additional 263 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Tapestry during the second quarter valued at approximately $39,000. Finally, SJS Investment Consulting Inc. lifted its position in Tapestry by 2,171.4% during the third quarter. SJS Investment Consulting Inc. now owns 477 shares of the luxury accessories retailer’s stock valued at $54,000 after purchasing an additional 456 shares during the period. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TPR shares. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and cut their target price for the stock from $142.00 to $138.00 in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a report on Wednesday, January 21st. JPMorgan Chase & Co. upped their price objective on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. BNP Paribas Exane started coverage on Tapestry in a research report on Friday, February 13th. They issued an “outperform” rating and a $176.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Insider Activity

In other Tapestry news, VP Manesh Dadlani sold 2,147 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $153.47, for a total value of $329,500.09. Following the completion of the sale, the vice president owned 18,475 shares in the company, valued at approximately $2,835,358.25. This represents a 10.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total value of $7,556,881.65. Following the sale, the chief executive officer directly owned 671,193 shares in the company, valued at approximately $103,947,659.91. This represents a 6.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 175,883 shares of company stock worth $26,471,214. 1.32% of the stock is currently owned by insiders.

Tapestry Stock Performance

NYSE:TPR opened at $157.11 on Friday. The stock has a 50-day simple moving average of $134.93 and a two-hundred day simple moving average of $118.07. Tapestry, Inc. has a 52-week low of $58.39 and a 52-week high of $158.28. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. The firm has a market capitalization of $31.81 billion, a PE ratio of 64.92, a P/E/G ratio of 1.87 and a beta of 1.63.

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

Tapestry Announces Dividend

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

Tapestry announced that its Board of Directors has initiated a stock repurchase 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 reacquire up to 4.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

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.