Eurizon Capital SGR S.p.A. Purchases New Holdings in Tapestry, Inc. $TPR

Key Points

• Eurizon Capital SGR disclosed a new fourth-quarter stake in Tapestry, buying 63,422 shares worth about $8.1 million.
• Tapestry has seen continued institutional activity, with several hedge funds adding or initiating positions, while 90.77% of the stock is held by institutional investors and hedge funds.
• The company reported strong quarterly results, including EPS of $1.66 versus $1.30 expected and revenue of $1.92 billion, and it also announced a quarterly dividend of $0.40 per share.

Eurizon Capital SGR S.p.A. purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,422 shares of the luxury accessories retailer's stock, valued at approximately $8,109,000.

Other hedge funds also recently made changes to their positions in the company. Steph & Co. lifted its position in shares of Tapestry by 128.7% in the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock valued at $30,000 after buying an additional 130 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Tapestry in the fourth quarter valued at approximately $31,000. Triumph Capital Management acquired a new stake in shares of Tapestry in the third quarter valued at approximately $29,000. Cornerstone Planning Group LLC lifted its position in shares of Tapestry by 2,720.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer's stock valued at $36,000 after buying an additional 272 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of Tapestry by 157.4% in the fourth quarter. Sound Income Strategies LLC now owns 314 shares of the luxury accessories retailer's stock valued at $41,000 after buying an additional 192 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the transaction, the chief executive officer owned 123,258 shares in the company, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry 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 completion of the transaction, the chief executive officer owned 652,434 shares in the company, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by company insiders.

Tapestry Price Performance

Tapestry stock opened at $145.40 on Monday. The stock's fifty day moving average price is $142.31 and its two-hundred day moving average price is $135.10. Tapestry, Inc. has a one year low of $76.92 and a one year high of $161.97. 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 firm has a market cap of $29.38 billion, a PE ratio of 46.60, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 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 for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the company earned $1.03 EPS. The company's revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, research analysts expect that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders 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 yield of 1.1%. The ex-dividend date is Friday, June 5th. Tapestry's dividend payout ratio (DPR) is 51.28%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. BTIG Research reiterated a "buy" rating and set a $180.00 target price on shares of Tapestry in a research note on Friday, May 8th. BNP Paribas Exane assumed coverage on Tapestry in a research note on Friday, February 13th. They set an "outperform" rating and a $176.00 target price on the stock. Sanford C. Bernstein reiterated an "outperform" rating and set a $170.00 target price on shares of Tapestry in a research note on Friday, February 6th. Raymond James Financial reiterated an "outperform" rating and set a $165.00 target price on shares of Tapestry in a research note on Thursday, April 23rd. Finally, Argus set a $165.00 target price on Tapestry in a research note on Thursday, March 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $160.67.

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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