Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys Shares of 8,828 Tapestry, Inc. $TPR

Key Points

• Fideuram Intesa Sanpaolo Private Banking initiated a new position in Tapestry during the fourth quarter, buying 8,828 shares worth about $1.13 million.
• Tapestry reported better-than-expected fiscal Q4 results, with EPS of $1.66 versus $1.30 expected and revenue of $1.92 billion versus $1.79 billion expected; revenue rose 21.2% year over year.
• The company also announced a quarterly dividend of $0.40 per share, payable June 22, and analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average target price of $160.67.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,828 shares of the luxury accessories retailer's stock, valued at approximately $1,128,000.

Several other institutional investors also recently bought and sold shares of TPR. State Street Corp raised its holdings in Tapestry by 19.3% during the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer's stock valued at $1,044,995,000 after buying an additional 1,494,193 shares in the last quarter. Voloridge Investment Management LLC grew its position in shares of Tapestry by 160.5% in the third quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer's stock valued at $213,592,000 after purchasing an additional 1,162,442 shares during the last quarter. Two Sigma Investments LP grew its position in shares of Tapestry by 426.8% in the third quarter. Two Sigma Investments LP now owns 1,122,520 shares of the luxury accessories retailer's stock valued at $127,092,000 after purchasing an additional 909,433 shares during the last quarter. Barclays PLC grew its position in shares of Tapestry by 191.9% in the third quarter. Barclays PLC now owns 1,297,394 shares of the luxury accessories retailer's stock valued at $146,891,000 after purchasing an additional 852,908 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Tapestry by 21.1% in the third quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer's stock valued at $549,046,000 after purchasing an additional 846,553 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company's stock.

Tapestry Stock Down 0.3%

TPR stock opened at $138.65 on Friday. Tapestry, Inc. has a twelve month low of $76.29 and a twelve month high of $161.97. The company has a market cap of $28.01 billion, a PE ratio of 44.44, a price-to-earnings-growth ratio of 1.41 and a beta of 1.45. The business's 50-day simple moving average is $142.33 and its 200 day simple moving average is $133.61. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48.

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

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. Tapestry's payout ratio is 51.28%.

Analyst Upgrades and Downgrades

TPR has been the topic of several research analyst reports. Evercore set a $175.00 price target on Tapestry in a research report on Friday, May 8th. Zacks Research raised Tapestry from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 9th. Argus set a $165.00 price target on Tapestry in a research report on Thursday, March 12th. Citigroup raised their price target on Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Barclays set a $179.00 price target on Tapestry and gave the company an "overweight" rating in a research report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average 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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