ABN Amro Investment Solutions Raises Holdings in Tapestry, Inc. $TPR

Key Points

• ABN Amro Investment Solutions increased its Tapestry stake by 241.7% in the fourth quarter, ending with 10,860 shares worth about $1.39 million.
• Tapestry reported a strong quarterly result, with EPS of $1.66 beating estimates and revenue of $1.92 billion topping expectations; revenue rose 21.2% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $160.67, while the company also declared a quarterly dividend of $0.40 per share.

ABN Amro Investment Solutions grew its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 241.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,860 shares of the luxury accessories retailer's stock after purchasing an additional 7,682 shares during the quarter. ABN Amro Investment Solutions' holdings in Tapestry were worth $1,388,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TPR. Steph & Co. lifted its stake in shares of Tapestry by 128.7% during the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock worth $30,000 after buying an additional 130 shares during the period. Cloud Capital Management LLC purchased a new stake in shares of Tapestry during the third quarter valued at $26,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Tapestry during the fourth quarter valued at $31,000. Triumph Capital Management purchased a new stake in shares of Tapestry during the third quarter valued at $29,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Tapestry by 2,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer's stock valued at $36,000 after buying an additional 272 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TPR shares. Telsey Advisory Group boosted their price objective on shares of Tapestry to $150.00 and gave the company an "outperform" rating in a report on Thursday, February 5th. Wall Street Zen raised shares of Tapestry from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. The Goldman Sachs Group set a $166.00 target price on shares of Tapestry in a research report on Friday, February 6th. Sanford C. Bernstein restated an "outperform" rating and set a $170.00 target price on shares of Tapestry in a research report on Friday, February 6th. Finally, Wells Fargo & Company boosted their target price on shares of Tapestry from $142.00 to $165.00 and gave the company an "overweight" rating in a research report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $160.67.

Tapestry Stock Down 0.3%

TPR opened at $138.65 on Friday. Tapestry, Inc. has a fifty-two week low of $76.29 and a fifty-two week high of $161.97. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The company has a fifty day moving average of $142.33 and a two-hundred day moving average of $133.61. The stock has a market capitalization of $28.01 billion, a price-to-earnings ratio of 44.44, a PEG ratio of 1.41 and a beta of 1.45.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $1.79 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. The firm'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, research analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry's dividend payout ratio is currently 51.28%.

Insiders Place Their Bets

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total value of $3,691,152.64. Following the transaction, the chief executive officer directly owned 652,434 shares of the company's stock, valued at $86,701,954.26. This trade represents a 4.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by company insiders.

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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