Banque Cantonale Vaudoise Grows Stake in Tapestry, Inc. $TPR

Key Points

• Banque Cantonale Vaudoise dramatically increased its stake in Tapestry, boosting holdings by 2,564.2% in the fourth quarter to 14,200 shares worth about $1.81 million.
• Tapestry reported a stronger-than-expected quarter, with EPS of $1.66 beating estimates and revenue of $1.92 billion topping forecasts, while revenue rose 21.2% year over year.
• The company declared a quarterly dividend of $0.40 per share and saw mixed insider/analyst activity, including CEO Joanne C. Crevoiserat’s share sale and several analyst upgrades that left the stock with a Moderate Buy consensus.

Banque Cantonale Vaudoise increased its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 2,564.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,200 shares of the luxury accessories retailer's stock after purchasing an additional 13,667 shares during the quarter. Banque Cantonale Vaudoise's holdings in Tapestry were worth $1,814,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cloud Capital Management LLC purchased a new position in Tapestry during the 3rd quarter valued at approximately $26,000. Triumph Capital Management purchased a new position in shares of Tapestry in the 3rd quarter worth approximately $29,000. Steph & Co. boosted its holdings in shares of Tapestry by 128.7% in the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock worth $30,000 after purchasing an additional 130 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Tapestry in the 4th quarter worth approximately $31,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Tapestry by 2,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer's stock worth $36,000 after purchasing an additional 272 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Price Performance

Shares of TPR stock opened at $139.45 on Friday. Tapestry, Inc. has a 52-week low of $76.29 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. The firm has a market capitalization of $28.17 billion, a P/E ratio of 44.69, a P/E/G ratio of 1.38 and a beta of 1.45. The stock has a 50 day moving average price of $142.47 and a 200 day moving average price of $133.57.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the company earned $1.03 EPS. Tapestry's quarterly 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, sell-side analysts predict that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry's dividend payout ratio (DPR) is currently 51.28%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded Tapestry from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Argus set a $165.00 target price on Tapestry in a report on Thursday, March 12th. BNP Paribas Exane assumed coverage on Tapestry in a report on Friday, February 13th. They issued an "outperform" rating and a $176.00 target price for the company. UBS Group upgraded Tapestry from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $142.00 to $187.00 in a report on Friday, May 8th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $170.00 target price on shares of Tapestry in a report on Friday, February 6th. Two research 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's stock. According to data from MarketBeat, Tapestry has a consensus rating of "Moderate Buy" and a consensus price target of $160.67.

Insider Activity

In related news, 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 transaction of $3,691,152.64. Following the completion of the sale, the chief executive officer directly owned 652,434 shares of the company's stock, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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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