Keystone Investors PTE Ltd. Boosts Stake in Tapestry, Inc. $TPR

Keystone Investors PTE Ltd. boosted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 93.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,319 shares of the luxury accessories retailer’s stock after purchasing an additional 25,696 shares during the period. Keystone Investors PTE Ltd.’s holdings in Tapestry were worth $6,037,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TPR. Schroder Investment Management Group increased its holdings in Tapestry by 1,661.6% in the 2nd quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock worth $351,487,000 after acquiring an additional 3,775,593 shares in the last quarter. Norges Bank bought a new position in shares of Tapestry in the second quarter worth approximately $227,248,000. Massachusetts Financial Services Co. MA increased its stake in shares of Tapestry by 250.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock worth $277,295,000 after purchasing an additional 1,750,566 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Tapestry by 36.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock valued at $311,388,000 after buying an additional 939,227 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Tapestry by 2,547.4% in the 2nd quarter. Marshall Wace LLP now owns 955,667 shares of the luxury accessories retailer’s stock worth $83,917,000 after buying an additional 919,569 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 3.3%

Shares of TPR opened at $155.16 on Friday. The company’s fifty day simple moving average is $138.14 and its 200-day simple moving average is $119.67. The company has a market cap of $31.41 billion, a P/E ratio of 64.11, a P/E/G ratio of 1.92 and a beta of 1.63. The company has a current ratio of 1.63, a quick ratio of 1.10 and a debt-to-equity ratio of 4.32. Tapestry, Inc. has a twelve month low of $58.39 and a twelve month high of $161.97.

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

Tapestry declared that its board has initiated a share buyback 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 purchase up to 4.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s payout ratio is currently 66.12%.

Insider Transactions at Tapestry

In other news, Director Thomas Greco sold 14,245 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total transaction of $2,199,997.80. Following the transaction, the director owned 21,302 shares of the company’s stock, valued at approximately $3,289,880.88. This represents a 40.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Denise Kulikowsky sold 9,166 shares of Tapestry stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $155.62, for a total value of $1,426,412.92. Following the completion of the sale, the insider owned 26,942 shares of the company’s stock, valued at $4,192,714.04. The trade was a 25.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 165,539 shares of company stock valued at $25,364,406 in the last ninety days. Corporate insiders own 1.32% of the company’s stock.

Analyst Ratings Changes

TPR has been the topic of a number of recent analyst reports. Argus raised Tapestry to a “strong-buy” rating in a report on Friday, January 16th. UBS Group reissued a “neutral” rating and issued a $141.00 price target on shares of Tapestry in a report on Monday, February 9th. Evercore increased their price objective on shares of Tapestry from $129.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Jefferies Financial Group cut shares of Tapestry from a “buy” rating to a “hold” rating and cut their target price for the company from $142.00 to $138.00 in a research note on Wednesday, January 14th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $170.00 price target 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, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.00.

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.