BI Asset Management Fondsmaeglerselskab A S Boosts Stock Position in Tapestry, Inc. $TPR

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its Tapestry stake by 155.4% in Q1, holding 154,652 shares worth about $21.8 million at the end of the period.
• Wall Street sentiment remains positive, with multiple analysts raising price targets and Tapestry carrying a consensus rating of “Moderate Buy” and an average price target of $165.12.
• Tapestry posted strong quarterly results, beating EPS and revenue estimates, and also announced a quarterly dividend of $0.40 per share to be paid on June 22.

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 155.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,652 shares of the luxury accessories retailer's stock after buying an additional 94,106 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.08% of Tapestry worth $21,823,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TPR. Smartleaf Asset Management LLC grew its stake in shares of Tapestry by 2.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer's stock worth $477,000 after acquiring an additional 73 shares during the last quarter. Northwest Wealth Management LLC raised its position in shares of Tapestry by 3.4% in the 4th quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer's stock worth $315,000 after purchasing an additional 82 shares during the last quarter. Fulton Bank N.A. raised its position in shares of Tapestry by 2.8% in the 4th quarter. Fulton Bank N.A. now owns 3,166 shares of the luxury accessories retailer's stock worth $405,000 after purchasing an additional 87 shares during the last quarter. CVA Family Office LLC boosted its stake in Tapestry by 23.4% in the 4th quarter. CVA Family Office LLC now owns 469 shares of the luxury accessories retailer's stock worth $60,000 after purchasing an additional 89 shares in the last quarter. Finally, Clark Financial Services Group Inc. BD boosted its stake in Tapestry by 1.8% in the 4th quarter. Clark Financial Services Group Inc. BD now owns 5,701 shares of the luxury accessories retailer's stock worth $733,000 after purchasing an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on TPR. Citigroup increased their price objective on shares of Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. BTIG Research reiterated a "buy" rating and issued a $180.00 target price on shares of Tapestry in a research note on Wednesday, June 10th. Evercore set a $175.00 price target on shares of Tapestry in a report on Friday, May 8th. Argus set a $165.00 price target on shares of Tapestry in a research report on Thursday, March 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Tapestry from $200.00 to $205.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Two research analysts have 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 MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $165.12.

Tapestry Price Performance

NYSE TPR opened at $144.07 on Friday. Tapestry, Inc. has a one year low of $83.26 and a one year high of $161.97. The stock has a 50-day moving average of $142.60 and a 200 day moving average of $138.94. 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 market capitalization of $29.11 billion, a price-to-earnings ratio of 46.18, a PEG ratio of 1.46 and a beta of 1.42.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The business had revenue of $1.92 billion for the quarter, compared to analysts' expectations of $1.79 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, sell-side analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

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

Insider Activity at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 652,434 shares of the company's stock, valued at $86,701,954.26. This represents a 4.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the stock in a transaction 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 directly owned 123,258 shares in the company, valued at $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.32% of the company's stock.

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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