Kane Investment Management Inc. Increases Stock Position in Tapestry, Inc. $TPR

Kane Investment Management Inc. lifted its position in shares of Tapestry, Inc. (NYSE:TPR) by 37.6% during the third quarter, Holdings Channel reports. The firm owned 11,744 shares of the luxury accessories retailer’s stock after acquiring an additional 3,210 shares during the period. Kane Investment Management Inc.’s holdings in Tapestry were worth $1,330,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Convergence Financial LLC lifted its position in shares of Tapestry by 3.0% during 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. Essex Financial Services Inc. increased its position in shares of Tapestry by 3.5% during the third quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer’s stock valued at $376,000 after acquiring an additional 113 shares during the last quarter. Blue Trust Inc. increased its position in shares of Tapestry by 19.7% during the third quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock valued at $84,000 after acquiring an additional 122 shares during the last quarter. Wedmont Private Capital lifted its holdings in Tapestry by 3.3% during the third quarter. Wedmont Private Capital now owns 4,352 shares of the luxury accessories retailer’s stock worth $502,000 after acquiring an additional 139 shares during the period. Finally, 44 Wealth Management LLC boosted its position in Tapestry by 0.8% in the second quarter. 44 Wealth Management LLC now owns 19,018 shares of the luxury accessories retailer’s stock worth $1,670,000 after purchasing an additional 142 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Performance

Shares of TPR opened at $157.08 on Thursday. Tapestry, Inc. has a 52-week low of $58.39 and a 52-week high of $161.97. The stock’s 50-day simple moving average is $139.73 and its 200 day simple moving average is $120.83. 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 stock has a market capitalization of $31.80 billion, a price-to-earnings ratio of 64.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.55.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share 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 firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the business posted $2.00 earnings per share. The company’s revenue was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal 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 issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 66.12%.

Tapestry declared that its Board of Directors has approved a stock buyback program on Thursday, November 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the luxury accessories retailer to reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

TPR has been the subject of several research analyst reports. BTIG Research raised their target price on Tapestry from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Evercore raised their price objective on shares of Tapestry from $129.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. The Goldman Sachs Group set a $166.00 target price on shares of Tapestry in a research note on Friday, February 6th. Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Finally, Jefferies Financial Group cut shares of Tapestry from a “buy” rating to a “hold” rating and lowered their price target for the stock from $142.00 to $138.00 in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Insider Activity

In other news, insider Denise Kulikowsky sold 9,166 shares of the company’s stock in a transaction on 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 transaction, the insider owned 26,942 shares of the company’s stock, valued at approximately $4,192,714.04. This represents a 25.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas Greco sold 14,245 shares of Tapestry stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total value of $2,199,997.80. Following the sale, the director directly owned 21,302 shares of the company’s stock, valued at $3,289,880.88. This represents a 40.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 164,956 shares of company stock worth $25,297,262. Company insiders own 1.32% of the company’s stock.

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.