Kepler Cheuvreux Suisse SA Buys New Stake in Tapestry, Inc. $TPR

Key Points

• Kepler Cheuvreux Suisse SA disclosed a new first-quarter stake in Tapestry, buying 26,601 shares worth about $3.75 million.
• Several other institutional investors also added to or initiated positions, and hedge funds and other institutions now own 90.77% of Tapestry’s shares.
• Tapestry reported strong quarterly results, beating EPS and revenue estimates, while analysts remain broadly positive with an average rating of Moderate Buy and an average price target of $167.65.

Kepler Cheuvreux Suisse SA purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 26,601 shares of the luxury accessories retailer's stock, valued at approximately $3,754,000.

Several other hedge funds have also bought and sold shares of TPR. Woodline Partners LP increased its holdings in shares of Tapestry by 25.0% in the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer's stock worth $1,231,000 after purchasing an additional 3,495 shares during the last quarter. Acadian Asset Management LLC bought a new position in Tapestry during the first quarter valued at approximately $493,000. Sivia Capital Partners LLC bought a new position in Tapestry during the second quarter valued at approximately $602,000. Arrowstreet Capital Limited Partnership purchased a new position in Tapestry during the 2nd quarter valued at approximately $6,307,000. Finally, Brown Advisory Inc. grew its holdings in Tapestry by 13.8% during the 2nd quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer's stock valued at $319,000 after buying an additional 439 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insiders Place Their Bets

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the completion of the transaction, the chief executive officer directly owned 652,434 shares of the company's stock, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the transaction, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.32% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TPR shares. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $180.00 price objective on shares of Tapestry in a report on Tuesday, June 2nd. Weiss Ratings lowered shares of Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 20th. Raymond James Financial restated an "outperform" rating and issued a $165.00 price target on shares of Tapestry in a research report on Thursday, April 23rd. Robert W. Baird upped their price target on shares of Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Finally, BTIG Research reiterated a "buy" rating and set a $180.00 price objective on shares of Tapestry in a research report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $167.65.

Tapestry Price Performance

NYSE:TPR opened at $144.19 on Friday. The firm has a market capitalization of $29.13 billion, a price-to-earnings ratio of 46.22, a PEG ratio of 1.34 and a beta of 1.43. Tapestry, Inc. has a 1 year low of $86.68 and a 1 year high of $161.97. The business has a 50 day simple moving average of $141.69 and a 200-day simple moving average of $141.05. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27.

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, beating the consensus estimate 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 the consensus estimate of $1.79 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The company's revenue for the quarter was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

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

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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