BNP Paribas Financial Markets Cuts Holdings in Tapestry, Inc. $TPR

Key Points

• BNP Paribas Financial Markets cut its Tapestry stake by 39.1% in the fourth quarter, selling 317,176 shares and leaving it with 493,524 shares valued at about $63.1 million.
• Tapestry beat quarterly expectations on May 7, reporting $1.66 EPS on revenue of $1.92 billion, both above estimates, while revenue rose 21.2% year over year and the company issued FY2026 EPS guidance of 6.95.
• Analysts remain mostly bullish, with several firms raising targets and UBS upgrading the stock to buy; the consensus rating is Moderate Buy with an average price target of $160.67.

BNP Paribas Financial Markets lowered its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 39.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 493,524 shares of the luxury accessories retailer's stock after selling 317,176 shares during the quarter. BNP Paribas Financial Markets owned about 0.24% of Tapestry worth $63,058,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Northwest Wealth Management LLC increased its holdings 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 valued at $315,000 after acquiring an additional 82 shares during the last quarter. Fulton Bank N.A. increased its holdings 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 valued at $405,000 after acquiring an additional 87 shares during the last quarter. CVA Family Office LLC increased its holdings in shares of Tapestry by 23.4% in the 4th quarter. CVA Family Office LLC now owns 469 shares of the luxury accessories retailer's stock valued at $60,000 after acquiring an additional 89 shares during the last quarter. Clark Financial Services Group Inc. BD increased its holdings in shares of 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 valued at $733,000 after acquiring an additional 103 shares during the last quarter. Finally, Essex Financial Services Inc. increased its holdings in shares of Tapestry by 3.5% in the 3rd quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer's stock valued at $376,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Sanford C. Bernstein reissued an "outperform" rating and issued a $170.00 target price on shares of Tapestry in a research report on Friday, February 6th. TD Cowen reissued a "buy" rating on shares of Tapestry in a research report on Tuesday, February 10th. UBS Group raised Tapestry from a "neutral" rating to a "buy" rating and upped their target price for the company from $142.00 to $187.00 in a research report on Friday, May 8th. Citigroup upped their target price on Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $165.00 target price on shares of Tapestry in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.67.

Tapestry Stock Down 4.6%

TPR opened at $138.76 on Tuesday. 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 business has a 50 day simple moving average of $142.23 and a 200-day simple moving average of $135.36. The stock has a market capitalization of $28.04 billion, a P/E ratio of 44.48, a P/E/G ratio of 1.48 and a beta of 1.45. Tapestry, Inc. has a 12 month low of $76.92 and a 12 month high of $161.97.

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

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry's dividend payout ratio (DPR) is presently 51.28%.

Insider Activity at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction on 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 sale, the chief executive officer owned 123,258 shares of the company's stock, valued at $17,258,585.16. This trade 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 stock in a transaction on 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 sale, the chief executive officer directly owned 652,434 shares in the company, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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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