Allianz Asset Management GmbH Grows Stock Holdings in Tapestry, Inc. $TPR

Allianz Asset Management GmbH raised its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,120,758 shares of the luxury accessories retailer's stock after acquiring an additional 13,043 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.55% of Tapestry worth $143,199,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TPR. Triumph Capital Management purchased a new position in shares of Tapestry in the third quarter valued at about $29,000. Steph & Co. increased its position in shares of Tapestry by 128.7% during the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock valued at $30,000 after buying an additional 130 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Tapestry during the fourth quarter valued at about $31,000. Cornerstone Planning Group LLC increased its position 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 period. Finally, Sound Income Strategies LLC increased its position in shares of Tapestry by 157.4% during the fourth quarter. Sound Income Strategies LLC now owns 314 shares of the luxury accessories retailer's stock valued at $41,000 after buying an additional 192 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TPR. Wall Street Zen upgraded shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Evercore set a $175.00 price target on shares of Tapestry in a research report on Friday, May 8th. BTIG Research reiterated a "buy" rating and set a $180.00 price target on shares of Tapestry in a research report on Friday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of Tapestry from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Finally, Weiss Ratings cut shares of Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $161.22.

Tapestry Trading Up 3.2%

NYSE:TPR opened at $145.42 on Wednesday. Tapestry, Inc. has a one year low of $78.59 and a one year high of $161.97. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. The company's 50-day simple moving average is $142.02 and its 200 day simple moving average is $136.98. The firm has a market capitalization of $29.38 billion, a P/E ratio of 46.61, a PEG ratio of 1.43 and a beta of 1.42.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping the consensus estimate of $1.30 by $0.36. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. Tapestry's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, June 5th. Tapestry's dividend payout ratio is currently 51.28%.

Insider Activity at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the transaction, the chief executive officer owned 123,258 shares in the company, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the business'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 transaction 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. The trade was a 4.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate 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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