Comerica Bank Has $56.15 Million Stake in Tapestry, Inc. $TPR

Key Points

• Comerica Bank has increased its stake in Tapestry, Inc. by 10.4% in the first quarter, owning $56.15 million worth of shares after buying an additional 75,074 shares.
• Tapestry reported a quarterly EPS of $1.04, beating estimates and marking an 8.3% revenue increase year-over-year, with projected earnings for FY 2026 set between $5.300-$5.450.
• The company recently announced a dividend increase to $0.40 per share, reflecting a 1.6% yield, up from $0.35, with a payout ratio of 222.22%.

Comerica Bank boosted its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 10.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 797,507 shares of the luxury accessories retailer's stock after purchasing an additional 75,074 shares during the quarter. Comerica Bank owned 0.39% of Tapestry worth $56,152,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Ameriprise Financial Inc. raised its stake in Tapestry by 4.8% in the 4th quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock worth $527,799,000 after purchasing an additional 370,784 shares in the last quarter. Northern Trust Corp increased its holdings in Tapestry by 3.0% in the 4th quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock valued at $183,909,000 after buying an additional 83,222 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Tapestry by 593.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock valued at $143,198,000 after buying an additional 1,875,753 shares during the period. Southpoint Capital Advisors LP bought a new position in Tapestry in the 4th quarter valued at about $130,660,000. Finally, WT Asset Management Ltd increased its holdings in Tapestry by 140.6% in the 1st quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer's stock valued at $110,870,000 after buying an additional 920,087 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Stock Up 1.2%

Shares of TPR opened at $99.5640 on Friday. Tapestry, Inc. has a 52 week low of $39.40 and a 52 week high of $114.05. The stock has a market capitalization of $20.72 billion, a price-to-earnings ratio of 158.04, a PEG ratio of 2.51 and a beta of 1.51. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. The stock has a fifty day moving average of $98.72 and a 200-day moving average of $83.60.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the prior year, the company earned $0.92 EPS. Tapestry's revenue was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, September 5th. This is a positive change from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is presently 222.22%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TPR shares. Bank of America lowered shares of Tapestry from a "buy" rating to a "neutral" rating and raised their target price for the company from $95.00 to $115.00 in a report on Tuesday, July 29th. Cowen reissued a "buy" rating on shares of Tapestry in a report on Thursday, August 7th. Wells Fargo & Company raised their target price on shares of Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Citigroup raised their target price on shares of Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, TD Cowen raised shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Thursday, June 12th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $105.47.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.

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