J. Safra Sarasin Holding AG Raises Stake in Tapestry, Inc. $TPR

Key Points

• J. Safra Sarasin Holding AG increased its Tapestry stake by 157.6% in the first quarter, buying 10,628 additional shares and bringing its total holdings to 17,372 shares worth about $2.45 million.
• Institutional ownership remains heavy, with hedge funds and other institutional investors controlling 90.77% of Tapestry’s shares. Several other firms also recently added to or initiated positions in the luxury accessories retailer.
• Tapestry posted strong results and drew upbeat analyst views, reporting quarterly EPS of $1.66 on revenue of $1.92 billion, both above estimates, while analysts maintained a Moderate Buy consensus with a $169.88 average price target.

J. Safra Sarasin Holding AG lifted its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 157.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,372 shares of the luxury accessories retailer's stock after purchasing an additional 10,628 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Tapestry were worth $2,449,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TPR. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Tapestry in the 4th quarter worth approximately $8,109,000. Norges Bank acquired a new position in Tapestry during the fourth quarter worth $345,349,000. Keystone Investors PTE Ltd. raised its holdings in Tapestry by 17.4% during the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer's stock worth $8,001,000 after purchasing an additional 9,303 shares during the last quarter. Aberdeen Group plc boosted its position in Tapestry by 34.7% during the fourth quarter. Aberdeen Group plc now owns 47,573 shares of the luxury accessories retailer's stock worth $6,078,000 after purchasing an additional 12,251 shares in the last quarter. Finally, SteelPeak Wealth LLC purchased a new stake in Tapestry during the fourth quarter worth $1,865,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

TPR has been the subject of a number of research analyst reports. Morgan Stanley restated an "overweight" rating and issued a $164.00 price target on shares of Tapestry in a research report on Monday, July 6th. Robert W. Baird raised their target price on shares of Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Evercore set a $175.00 price target on shares of Tapestry in a report on Friday, May 8th. Finally, UBS Group increased their price target on shares of Tapestry from $187.00 to $230.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Two 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 stock. According to MarketBeat.com, Tapestry currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.88.

Insider Buying and Selling at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total transaction 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 represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction dated 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 sale, the chief executive officer owned 123,258 shares of the company's stock, valued at $17,258,585.16. This trade represents a 13.69% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.32% of the company's stock.

Tapestry Stock Performance

Shares of NYSE TPR opened at $136.00 on Tuesday. 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 company has a market cap of $27.48 billion, a PE ratio of 43.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.43. The company has a 50-day simple moving average of $141.29 and a 200-day simple moving average of $141.84. Tapestry, Inc. has a 12 month low of $92.62 and a 12 month high of $161.97.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.36. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. Tapestry's revenue was up 21.2% compared to the same quarter last year. During the same quarter 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, equities analysts anticipate that Tapestry, Inc. will post 6.96 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, June 5th. Tapestry's dividend payout ratio is presently 51.28%.

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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