Mitsubishi UFJ Asset Management Co. Ltd. Purchases 24,265 Shares of Tapestry, Inc. $TPR

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Tapestry by 5.9% in the fourth quarter, buying 24,265 additional shares and bringing its total holding to 432,136 shares worth about $55.8 million.
• Tapestry reported strong quarterly results, with EPS of $1.66 on revenue of $1.92 billion, both above estimates, and it raised its full-year outlook as sales grew 21.2% year over year.
• Analysts turned more constructive after the earnings update, with firms like JPMorgan and BTIG lifting targets or reiterating bullish ratings; however, the stock still faced pressure from tariff concerns and weaker Kate Spade performance.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 432,136 shares of the luxury accessories retailer's stock after buying an additional 24,265 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.21% of Tapestry worth $55,776,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Providence First Trust Co purchased a new stake in shares of Tapestry during the 4th quarter worth approximately $349,000. Highland Capital Management LLC raised its holdings in shares of Tapestry by 604.8% during the 4th quarter. Highland Capital Management LLC now owns 17,198 shares of the luxury accessories retailer's stock worth $2,197,000 after acquiring an additional 14,758 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Tapestry by 16.3% during the 4th quarter. QRG Capital Management Inc. now owns 8,914 shares of the luxury accessories retailer's stock worth $1,139,000 after acquiring an additional 1,251 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Tapestry by 8.0% during the 4th quarter. Truist Financial Corp now owns 614,786 shares of the luxury accessories retailer's stock worth $78,551,000 after acquiring an additional 45,766 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Tapestry during the 4th quarter worth approximately $244,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Tapestry

Here are the key news stories impacting Tapestry this week:

• Positive Sentiment: Tapestry beat fiscal third-quarter expectations, posting EPS of $1.66 on revenue of $1.92 billion, and also raised full-year guidance, which points to improving business momentum. Business Wire release
• Positive Sentiment: JPMorgan raised its price target on TPR to $200 from $190 and kept an overweight rating, signaling confidence in further upside from current levels. Benzinga report
• Positive Sentiment: BTIG reaffirmed a buy rating and set a $180 target, adding to the list of analysts turning more constructive after the earnings update. Benzinga report
• Neutral Sentiment: Tapestry announced a quarterly dividend of $0.40 per share, which supports shareholder returns but is not a major near-term catalyst. Earnings transcript
• Negative Sentiment: Despite the earnings beat, shares were pressured by concerns about tariffs and weaker performance at Kate Spade, suggesting investors are focusing on margin and brand-mix risks. Zacks article

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TPR. TD Cowen reaffirmed a "buy" rating on shares of Tapestry in a report on Tuesday, February 10th. Citigroup upped their price objective on Tapestry from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $170.00 price objective on shares of Tapestry in a report on Friday, February 6th. Argus set a $165.00 price objective on Tapestry in a report on Thursday, March 12th. Finally, Evercore set a $175.00 price objective on Tapestry in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Tapestry presently has an average rating of "Moderate Buy" and a consensus price target of $160.67.

Insider Transactions at Tapestry

In other news, Director Thomas Greco sold 14,245 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was 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 in the company, valued at approximately $3,289,880.88. This represents a 40.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Manesh Dadlani sold 2,147 shares of the firm's 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 transaction, the vice president owned 18,475 shares in the company, valued at $2,835,358.25. The trade was a 10.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 164,956 shares of company stock valued at $25,297,262. Company insiders own 1.32% of the company's stock.

Tapestry Trading Up 2.2%

Shares of NYSE TPR opened at $133.43 on Friday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.10 and a current ratio of 1.84. The business's 50 day moving average price is $146.44 and its 200-day moving average price is $132.25. Tapestry, Inc. has a fifty-two week low of $76.29 and a fifty-two week high of $161.97. The company has a market cap of $27.01 billion, a price-to-earnings ratio of 42.77, a PEG ratio of 1.45 and a beta of 1.45.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.35. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The company's revenue for the quarter was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, sell-side analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, June 5th. Tapestry's dividend payout ratio is presently 66.12%.

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.

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