Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Stake in Tapestry, Inc. $TPR

Key Points

• Fjarde AP Fonden increased its stake in Tapestry by 59.8% in the first quarter, ending with 53,200 shares valued at about $7.5 million.
• Tapestry reported strong quarterly results, with EPS of $1.66 beating estimates and revenue of $1.92 billion, up 21.2% year over year.
• Analyst sentiment remains positive, with Tapestry carrying a Moderate Buy consensus and an average price target of $167.65; UBS recently raised its target to $230.

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 59.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 53,200 shares of the luxury accessories retailer's stock after buying an additional 19,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Tapestry were worth $7,507,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Acumen Wealth Advisors LLC purchased a new stake in shares of Tapestry during the fourth quarter valued at $28,000. Triumph Capital Management bought a new stake in Tapestry during the 3rd quarter valued at $29,000. Steph & Co. boosted its position in Tapestry by 128.7% during the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock valued at $30,000 after purchasing an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Tapestry in the 4th quarter worth approximately $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Tapestry during the 4th quarter worth $32,000. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

Shares of TPR stock opened at $144.19 on Monday. Tapestry, Inc. has a 52 week low of $86.68 and a 52 week high of $161.97. The firm has a 50 day moving average of $141.69 and a two-hundred day moving average of $141.17. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The stock has a market capitalization of $29.13 billion, a PE ratio of 46.22, a P/E/G ratio of 1.34 and a beta of 1.43.

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 (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the business posted $1.03 earnings per share. Tapestry's revenue was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, research analysts predict that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. Tapestry's dividend payout ratio (DPR) is presently 51.28%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TPR. Wall Street Zen upgraded Tapestry from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Argus set a $165.00 target price on Tapestry in a research report on Thursday, March 12th. Citigroup boosted their target price on shares of Tapestry from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Weiss Ratings downgraded shares of Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. Finally, UBS Group lifted their price objective on Tapestry from $187.00 to $230.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $167.65.

Insiders Place Their Bets

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the transaction, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total value of $3,691,152.64. Following the transaction, the chief executive officer directly owned 652,434 shares in the company, valued at approximately $86,701,954.26. This trade represents 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. 1.32% of the stock is owned by insiders.

Tapestry 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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