Bank of America Corp DE Buys 429,338 Shares of Tapestry, Inc. $TPR

Key Points

• Bank of America increased its Tapestry stake by 9.3%, purchasing 429,338 additional shares to own 5.04 million shares, or approximately 2.5% of the company valued at $711.5 million. Institutional investors collectively own 90.77% of Tapestry.
• Tapestry reported quarterly EPS of $1.66, beating estimates of $1.30, while revenue reached $1.92 billion and rose 21.2% year over year. The company guided to approximately $6.95 in fiscal 2026 EPS.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $173.50 versus the reported share price of $152.57. Tapestry also pays a quarterly dividend of $0.40 per share, for a 1.0% annualized yield.

Bank of America Corp DE boosted its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,041,935 shares of the luxury accessories retailer's stock after purchasing an additional 429,338 shares during the period. Bank of America Corp DE owned about 2.50% of Tapestry worth $711,467,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Acumen Wealth Advisors LLC bought a new position in shares of Tapestry during the 4th quarter worth $28,000. Triumph Capital Management purchased a new stake in Tapestry in the 3rd quarter worth about $29,000. Steph & Co. raised its stake in Tapestry by 128.7% in the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock valued at $30,000 after acquiring an additional 130 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in Tapestry during the fourth quarter valued at about $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Tapestry during the fourth quarter valued at about $32,000. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Down 0.0%

TPR opened at $152.57 on Friday. The business's fifty day simple moving average is $143.99 and its 200 day simple moving average is $143.14. The stock has a market cap of $30.83 billion, a PE ratio of 48.90, a P/E/G ratio of 1.39 and a beta of 1.43. Tapestry, Inc. has a 52 week low of $92.62 and a 52 week high of $161.97. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.36. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.Tapestry's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, research analysts expect that Tapestry, Inc. will post 6.97 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared 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. This represents a $1.60 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, June 5th. Tapestry's dividend payout ratio is presently 51.28%.

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction dated Tuesday, May 26th. The stock was 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total value of $3,691,152.64. Following the transaction, the chief executive officer owned 652,434 shares in the company, valued at approximately $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. 1.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TPR shares. Evercore set a $175.00 target price on shares of Tapestry in a research note on Friday, May 8th. Zacks Research cut shares of Tapestry from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Wall Street Zen raised shares of Tapestry from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. JPMorgan Chase & Co. lifted their price objective on shares of Tapestry from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Finally, Barclays boosted their target price on shares of Tapestry from $179.00 to $182.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $173.50.

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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