SEB Asset Management AB Acquires Shares of 421,834 Tapestry, Inc. $TPR

Key Points

• SEB Asset Management AB disclosed a new first-quarter stake in Tapestry, buying 421,834 shares valued at about $59.5 million and representing roughly 0.21% of the company.
• Tapestry reported strong quarterly results, with earnings of $1.66 per share and revenue of $1.92 billion, both ahead of analyst estimates; revenue rose 21.2% year over year.
• The stock has drawn continued institutional interest and analyst support, though insiders have recently sold shares; Tapestry also paid a quarterly dividend of $0.40 per share, equal to a 1.1% annualized yield.

SEB Asset Management AB acquired a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 421,834 shares of the luxury accessories retailer's stock, valued at approximately $59,525,000. SEB Asset Management AB owned approximately 0.21% of Tapestry at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Eurizon Capital SGR S.p.A. acquired a new position in Tapestry during the fourth quarter worth $8,109,000. Norges Bank acquired a new stake in shares of Tapestry in the fourth quarter valued at about $345,349,000. Keystone Investors PTE Ltd. grew its position in shares of Tapestry by 17.4% in the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer's stock valued at $8,001,000 after purchasing an additional 9,303 shares during the period. SteelPeak Wealth LLC purchased a new stake in shares of Tapestry during the fourth quarter worth about $1,865,000. Finally, Aberdeen Group plc increased its stake in shares of 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. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Down 1.9%

Shares of NYSE TPR opened at $141.43 on Friday. The stock has a market cap of $28.57 billion, a PE ratio of 45.33, a P/E/G ratio of 1.30 and a beta of 1.43. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48. Tapestry, Inc. has a 12-month low of $92.62 and a 12-month high of $161.97. The company has a 50-day moving average of $141.43 and a 200 day moving average of $142.04.

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, topping analysts' consensus estimates of $1.30 by $0.36. The business 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%. The business's revenue was up 21.2% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, sell-side analysts predict that Tapestry, Inc. will post 6.96 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors 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 dividend payout ratio (DPR) is presently 51.28%.

Insider Buying and Selling

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the company's stock in a transaction 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 in the company, valued at $17,258,585.16. This represents a 13.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's stock in a transaction 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 directly owned 652,434 shares of the company's stock, valued at $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Evercore set a $175.00 price target on shares of Tapestry in a research note on Friday, May 8th. Weiss Ratings lowered Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. Sanford C. Bernstein reissued an "outperform" rating and set a $180.00 target price on shares of Tapestry in a report on Tuesday, June 2nd. Morgan Stanley restated an "overweight" rating and issued a $164.00 target price on shares of Tapestry in a research report on Monday, July 6th. Finally, Robert W. Baird lifted their price target on Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $170.06.

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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