Comerica Bank Sells 525,617 Shares of Tapestry, Inc. $TPR

Key Points

• Comerica Bank sold 525,617 Tapestry shares in Q4, cutting its stake by 91.2% to 50,742 shares valued at about $6.48 million.
• Insider selling was substantial: CEO Joanne Crevoiserat sold 48,795 shares (~$7.56M) and Director Thomas Greco sold 14,245 shares (~$2.20M), with insiders disposing of 164,956 shares worth ~$25.3M in the last three months (insiders now own 1.32%).
• Tapestry beat quarterly expectations (EPS $2.69 vs. $2.20 consensus) and gave FY2026 EPS guidance of 6.400–6.450, while analysts have mostly raised targets and the consensus rating is a “Moderate Buy” with a $153.89 price target.

Comerica Bank reduced its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 91.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 50,742 shares of the luxury accessories retailer's stock after selling 525,617 shares during the period. Comerica Bank's holdings in Tapestry were worth $6,483,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Northwest Wealth Management LLC lifted its stake in shares of Tapestry by 3.4% during the 4th quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer's stock worth $315,000 after acquiring an additional 82 shares during the last quarter. Fulton Bank N.A. lifted its stake in shares of Tapestry by 2.8% during the 4th quarter. Fulton Bank N.A. now owns 3,166 shares of the luxury accessories retailer's stock worth $405,000 after acquiring an additional 87 shares during the last quarter. CVA Family Office LLC lifted its stake in shares of Tapestry by 23.4% during the 4th quarter. CVA Family Office LLC now owns 469 shares of the luxury accessories retailer's stock worth $60,000 after acquiring an additional 89 shares during the last quarter. Clark Financial Services Group Inc. BD lifted its stake in shares of Tapestry by 1.8% during 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 acquiring an additional 103 shares during the last quarter. Finally, Essex Financial Services Inc. lifted its stake in shares of Tapestry by 3.5% during the 3rd quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer's stock worth $376,000 after acquiring an additional 113 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Thomas Greco sold 14,245 shares of Tapestry stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total value of $2,199,997.80. Following the transaction, the director directly owned 21,302 shares in the company, valued at approximately $3,289,880.88. This trade represents a 40.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of Tapestry stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total value of $7,556,881.65. Following the completion of the transaction, the chief executive officer owned 671,193 shares in the company, valued at $103,947,659.91. This represents a 6.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 164,956 shares of company stock worth $25,297,262. Insiders own 1.32% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TPR shares. Evercore raised their price target on Tapestry from $129.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 3rd. BNP Paribas Exane began coverage on Tapestry in a research report on Friday, February 13th. They set an "outperform" rating and a $176.00 target price for the company. Citigroup lifted their target price on Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday. Wells Fargo & Company lifted their target price on Tapestry from $142.00 to $165.00 and gave the company an "overweight" rating in a research report on Friday, February 6th. Finally, Argus set a $165.00 target price on Tapestry in a research report on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $153.89.

Tapestry Trading Up 2.4%

Shares of NYSE TPR opened at $144.98 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. The business has a fifty day simple moving average of $147.31 and a two-hundred day simple moving average of $131.52. The firm has a market cap of $29.35 billion, a PE ratio of 59.91, a price-to-earnings-growth ratio of 1.70 and a beta of 1.59. Tapestry, Inc. has a twelve month low of $70.40 and a twelve month high of $161.97.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.49. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.29 billion. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.Tapestry's revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 EPS. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Analysts expect that Tapestry, Inc. will post 6.45 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, March 6th were issued a $0.40 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Tapestry's dividend payout ratio (DPR) is currently 66.12%.

Tapestry Company 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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