Lombard Odier Asset Management Europe Ltd Has $2.81 Million Stake in Tapestry, Inc. $TPR

Key Points

• Lombard Odier Asset Management Europe Ltd cut its Tapestry stake by 99.6% in the fourth quarter, leaving it with 22,000 shares worth about $2.81 million.
• Tapestry reported a strong fiscal quarter, with EPS of $1.66 and revenue of $1.92 billion, both above analyst expectations, and revenue rose 21.2% year over year.
• The company also announced a quarterly dividend of $0.40 per share, while analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $165.12.

Lombard Odier Asset Management Europe Ltd trimmed its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 99.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,000 shares of the luxury accessories retailer's stock after selling 5,405,000 shares during the period. Lombard Odier Asset Management Europe Ltd's holdings in Tapestry were worth $2,811,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TPR. Schroder Investment Management Group grew its stake in Tapestry by 92.8% during the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer's stock worth $1,194,678,000 after buying an additional 4,500,850 shares in the last quarter. Norges Bank bought a new position in shares of Tapestry in the fourth quarter worth about $345,349,000. State Street Corp lifted its holdings in shares of Tapestry by 19.3% in the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer's stock worth $1,044,995,000 after acquiring an additional 1,494,193 shares during the last quarter. Voloridge Investment Management LLC lifted its holdings 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 worth $213,592,000 after acquiring an additional 1,162,442 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Tapestry by 169.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,770,695 shares of the luxury accessories retailer's stock worth $226,242,000 after acquiring an additional 1,114,082 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Down 1.1%

TPR stock opened at $149.39 on Wednesday. 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's 50 day moving average is $142.60 and its 200-day moving average is $138.40. Tapestry, Inc. has a twelve month low of $82.53 and a twelve month high of $161.97. The firm has a market capitalization of $30.18 billion, a PE ratio of 47.88, a P/E/G ratio of 1.53 and a beta of 1.42.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $1.92 billion for the quarter, compared to analysts' expectations of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The business's revenue was up 21.2% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Sell-side analysts expect that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry's dividend payout ratio is currently 51.28%.

Analyst Ratings Changes

TPR has been the subject of a number of research reports. Robert W. Baird increased their target price on shares of Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Citigroup increased their target price on shares of Tapestry from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Sanford C. Bernstein reissued an "outperform" rating and issued a $180.00 target price on shares of Tapestry in a report on Tuesday, June 2nd. JPMorgan Chase & Co. increased their target price on shares of Tapestry from $200.00 to $205.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Finally, BTIG Research reissued a "buy" rating and issued a $180.00 target price on shares of Tapestry in a report on Wednesday, June 10th. Two research 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 company. According to MarketBeat.com, Tapestry currently has an average rating of "Moderate Buy" and a consensus price target of $165.12.

Insider Activity

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of the company's 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 completion of the sale, the chief executive officer owned 652,434 shares of the company's stock, valued at $86,701,954.26. This represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 that occurred 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 completion of the sale, the chief executive officer directly owned 123,258 shares of the company's stock, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.32% of the company's stock.

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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