M&T Bank Corp Decreases Holdings in Tapestry, Inc. $TPR

Key Points

• M&T Bank Corp trimmed its stake in Tapestry by 33.0% in Q4, selling 10,437 shares and leaving 21,202 shares valued at about $2.71 million.
• Tapestry beat Q-on-Q expectations with $2.69 EPS vs. $2.20 estimate and $2.50B revenue vs. $2.29B expected, and set FY2026 guidance of 6.40–6.45 EPS (consensus ~6.45).
• Company insiders have been net sellers recently—including large sales by the CEO and a director—with insiders offloading a total of 164,956 shares (≈$25.3M) over the last three months; insiders now own ~1.32% of the stock.

M&T Bank Corp trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 33.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,202 shares of the luxury accessories retailer's stock after selling 10,437 shares during the period. M&T Bank Corp's holdings in Tapestry were worth $2,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in TPR. Cloud Capital Management LLC acquired a new stake in shares of Tapestry during the third quarter worth about $26,000. Triumph Capital Management acquired a new stake in shares of Tapestry during the third quarter worth about $29,000. Steph & Co. increased its position in shares of Tapestry by 128.7% during the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock worth $30,000 after purchasing an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Tapestry during the fourth quarter worth about $31,000. Finally, Sound Income Strategies LLC increased its position in shares of Tapestry by 157.4% during the fourth quarter. Sound Income Strategies LLC now owns 314 shares of the luxury accessories retailer's stock worth $41,000 after purchasing an additional 192 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Stock Performance

Shares of TPR stock opened at $146.60 on Tuesday. The stock has a market capitalization of $29.68 billion, a PE ratio of 60.58, a price-to-earnings-growth ratio of 1.75 and a beta of 1.59. Tapestry, Inc. has a 52-week low of $67.22 and a 52-week high of $161.97. The stock's 50-day moving average price is $147.92 and its 200 day moving average price is $131.10. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.49. The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.29 billion. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The firm's revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 EPS. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, equities research analysts forecast that Tapestry, Inc. will post 6.45 EPS for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Friday, March 6th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, March 6th. Tapestry's payout ratio is 66.12%.

Insider Transactions at Tapestry

In related news, Director Thomas Greco sold 14,245 shares of the business's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total value of $2,199,997.80. Following the transaction, the director owned 21,302 shares in the company, valued at $3,289,880.88. The trade was a 40.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the business's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total value of $7,556,881.65. Following the completion of the transaction, the chief executive officer owned 671,193 shares in the company, valued at $103,947,659.91. This trade represents a 6.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 164,956 shares of company stock worth $25,297,262 over the last three months. 1.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TPR. Zacks Research upgraded Tapestry from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 9th. Wall Street Zen cut Tapestry from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 11th. Sanford C. Bernstein reiterated an "outperform" rating and set a $170.00 target price on shares of Tapestry in a research report on Friday, February 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Tapestry in a research report on Wednesday, January 21st. Finally, Evercore lifted their target price on Tapestry from $129.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Tapestry has a consensus rating of "Moderate Buy" and a consensus target price of $153.33.

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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