Sumitomo Mitsui Trust Group Inc. Sells 7,272 Shares of Tapestry, Inc. $TPR

Key Points

• Sumitomo Mitsui Trust Group Inc. trimmed its Tapestry stake by 1.7% in the first quarter, selling 7,272 shares and leaving it with 412,356 shares valued at about $58.2 million.
• Tapestry executives also sold shares: CEO Todd Kahn sold 19,557 shares, and CEO Joanne C. Crevoiserat sold 27,776 shares under a pre-arranged trading plan.
• Analysts remain largely positive on Tapestry, with a consensus “Moderate Buy” rating and an average price target of $169.88, while the stock recently traded around $141.12 after a strong earnings report and dividend payout.

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 412,356 shares of the luxury accessories retailer's stock after selling 7,272 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Tapestry worth $58,188,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Acumen Wealth Advisors LLC acquired a new position in Tapestry in the 4th quarter valued at approximately $28,000. Steph & Co. grew its holdings in shares of Tapestry by 128.7% during the 4th 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 bought a new stake in shares of Tapestry during the fourth quarter valued at approximately $31,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Tapestry during the fourth quarter valued at approximately $32,000. Finally, Triumph Capital Management acquired a new position in shares of Tapestry in the third quarter valued at $29,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Insiders Place Their Bets

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was 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 approximately $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 652,434 shares of the company's stock, valued at $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on TPR. BTIG Research reiterated a "buy" rating and set a $180.00 price target on shares of Tapestry in a research note on Wednesday, June 10th. Robert W. Baird increased their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $200.00 to $205.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Citigroup lifted their target price on shares of Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen raised shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and an average price target of $169.88.

Tapestry Price Performance

TPR stock traded up $1.20 during trading on Friday, hitting $141.12. The company had a trading volume of 1,413,179 shares, compared to its average volume of 2,637,429. The company has a fifty day moving average price of $141.47 and a two-hundred day moving average price of $141.71. Tapestry, Inc. has a fifty-two week low of $92.62 and a fifty-two week high of $161.97. The company has a market cap of $28.51 billion, a P/E ratio of 45.23, a P/E/G ratio of 1.29 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 (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.36. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The business's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities research analysts expect that Tapestry, Inc. will post 6.96 earnings per share 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 paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Tapestry's payout ratio is 51.28%.

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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