Tapestry, Inc. $TPR Position Raised by DNB Asset Management AS

Key Points

• DNB Asset Management increased its stake in Tapestry by 1,331.4% in Q3, adding 36,720 shares to hold 39,478 shares valued at about $4.47 million.
• Tapestry beat Q results (EPS $2.69 vs. $2.20 est., revenue $2.50B vs. $2.29B), set FY26 guidance of 6.400–6.450 EPS, and announced a $1.00 billion share buyback plus a $0.40 quarterly dividend; analysts’ consensus is a "Moderate Buy" with a $147 price target.
• Company insiders have been net sellers recently — the CEO sold 39,815 shares and insiders sold 165,539 shares (~$25.36M) in the last three months, leaving insiders with roughly 1.32% ownership.

DNB Asset Management AS lifted its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 1,331.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 39,478 shares of the luxury accessories retailer's stock after acquiring an additional 36,720 shares during the period. DNB Asset Management AS's holdings in Tapestry were worth $4,470,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of TPR. Vanguard Group Inc. grew its position in Tapestry by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer's stock worth $2,274,536,000 after purchasing an additional 606,686 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Tapestry by 3.0% during the second quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer's stock worth $482,125,000 after buying an additional 158,782 shares during the period. SRS Investment Management LLC boosted its position in shares of Tapestry by 12.4% during the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer's stock worth $468,275,000 after buying an additional 589,000 shares during the period. Schroder Investment Management Group increased its position 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 valued at $351,487,000 after acquiring an additional 3,775,593 shares during the period. Finally, AQR Capital Management LLC increased its position in Tapestry by 36.0% in 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 acquiring an additional 939,227 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. TD Cowen reissued a "buy" rating on shares of Tapestry in a research note on Tuesday, February 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Tapestry in a research report on Wednesday, January 21st. Citigroup raised their target price on shares of Tapestry from $152.00 to $165.00 and gave the company a "buy" rating in a research note on Friday, February 6th. Wells Fargo & Company upped their price target on shares of Tapestry from $142.00 to $165.00 and gave the stock an "overweight" rating in a research note on Friday, February 6th. Finally, Morgan Stanley increased their price objective on shares of Tapestry from $124.00 to $126.00 and gave the company an "overweight" rating in a report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tapestry currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.

Tapestry Stock Up 0.7%

NYSE TPR opened at $156.59 on Tuesday. The company has a market capitalization of $31.70 billion, a P/E ratio of 64.71, a PEG ratio of 1.86 and a beta of 1.55. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $161.97. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.63 and a quick ratio of 1.10. The company's 50 day simple moving average is $138.69 and its 200 day simple moving average is $120.20.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly 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. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the business posted $2.00 earnings per share. The firm's quarterly revenue was up 14.0% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Equities research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

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

Tapestry announced that its board has initiated a share buyback plan on Thursday, November 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the luxury accessories retailer to buy up to 4.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Tapestry

In other news, CEO Todd Kahn sold 39,815 shares of Tapestry stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $151.34, for a total value of $6,025,602.10. Following the transaction, the chief executive officer directly owned 120,578 shares of the company's stock, valued at $18,248,274.52. This trade represents a 24.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Denise Kulikowsky sold 9,166 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $155.62, for a total transaction of $1,426,412.92. Following the completion of the sale, the insider owned 26,942 shares of the company's stock, valued at approximately $4,192,714.04. This trade represents a 25.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 165,539 shares of company stock worth $25,364,406 in the last three months. 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.

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