Amundi Has $249.75 Million Stock Holdings in Tapestry, Inc. $TPR

Key Points

• Amundi nearly doubled its Tapestry holdings in the first quarter, increasing its position by 96% to 1.77 million shares valued at approximately $249.75 million.
• Institutional investors own 90.77% of Tapestry, with major holders including State Street, Schroder Investment Management, Geode Capital and Morgan Stanley.
• Tapestry reported stronger-than-expected quarterly results, with EPS of $1.66 and revenue of $1.92 billion, while analysts maintain a “Moderate Buy” consensus and an average price target of $173.50.

Amundi boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 96.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,769,905 shares of the luxury accessories retailer's stock after buying an additional 866,969 shares during the period. Amundi owned approximately 0.88% of Tapestry worth $249,751,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Tapestry by 3.8% during the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer's stock worth $1,223,795,000 after purchasing an additional 348,334 shares during the period. Schroder Investment Management Group grew its position in Tapestry by 92.8% during the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer's stock valued at $1,194,678,000 after purchasing an additional 4,500,850 shares in the last quarter. Geode Capital Management LLC increased its stake in Tapestry by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer's stock valued at $753,482,000 after buying an additional 203,764 shares during the period. AQR Capital Management LLC increased its stake in Tapestry by 21.4% in the 3rd quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer's stock valued at $487,708,000 after buying an additional 760,646 shares during the period. Finally, Morgan Stanley lifted its position in Tapestry by 8.9% in the 4th quarter. Morgan Stanley now owns 3,327,212 shares of the luxury accessories retailer's stock worth $425,118,000 after buying an additional 270,973 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the sale, the chief executive officer directly owned 123,258 shares in the company, valued at $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 652,434 shares in the company, valued at approximately $86,701,954.26. This represents a 4.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TPR. Robert W. Baird lifted their target price on shares of Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Sanford C. Bernstein reiterated an "outperform" rating and set a $180.00 price objective on shares of Tapestry in a report on Tuesday, June 2nd. Evercore set a $175.00 price objective on Tapestry in a research report on Friday, May 8th. UBS Group boosted their target price on Tapestry from $187.00 to $230.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $165.00 target price on shares of Tapestry in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $173.50.

Tapestry Stock Performance

TPR opened at $152.34 on Friday. The company has a market cap of $30.78 billion, a PE ratio of 48.83, a price-to-earnings-growth ratio of 1.37 and a beta of 1.43. The stock has a 50-day moving average of $143.71 and a 200-day moving average of $143.07. Tapestry, Inc. has a 52-week low of $92.62 and a 52-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.

Tapestry (NYSE:TPR - Get Free Report) last issued 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 return on equity of 229.70% and a net margin of 8.44%.The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the business earned $1.03 EPS. The firm's revenue was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, equities research analysts forecast that Tapestry, Inc. will post 6.97 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. Tapestry's payout ratio is currently 51.28%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.