Swedbank AB Sells 18,553 Shares of Tapestry, Inc. $TPR

Key Points

• Swedbank AB reduced its Tapestry stake by 1.7% in the first quarter, selling 18,553 shares and leaving it with 1,073,717 shares valued at about $151.5 million.
• Tapestry reported strong quarterly results, with EPS of $1.66 and revenue of $1.92 billion, both above analyst estimates. Revenue rose 21.2% year over year, and the company reaffirmed FY 2026 EPS guidance of $6.95.
• The company remains favored by analysts, with several firms raising price targets and a consensus rating of “Moderate Buy.” Tapestry also paid a quarterly dividend of $0.40 per share, or $1.60 annually, for a 1.1% yield.

Swedbank AB lessened its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 1.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,073,717 shares of the luxury accessories retailer's stock after selling 18,553 shares during the quarter. Swedbank AB owned about 0.53% of Tapestry worth $151,512,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acumen Wealth Advisors LLC purchased a new position in shares of Tapestry during the 4th quarter valued at $28,000. Triumph Capital Management bought a new position in shares of Tapestry in the third quarter worth $29,000. Steph & Co. raised its position in shares of Tapestry by 128.7% in the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock worth $30,000 after buying an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Tapestry in the fourth quarter worth $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Tapestry during the fourth quarter valued at $32,000. 90.77% of the stock is currently owned by institutional investors.

Tapestry Trading Up 0.7%

Shares of NYSE TPR traded up $1.01 during trading hours on Tuesday, hitting $146.50. The company's stock had a trading volume of 353,742 shares, compared to its average volume of 2,364,831. Tapestry, Inc. has a 12 month low of $90.67 and a 12 month high of $161.97. The stock has a market cap of $29.60 billion, a price-to-earnings ratio of 46.97, a P/E/G ratio of 1.34 and a beta of 1.43. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The business has a 50-day simple moving average of $141.67 and a 200-day simple moving average of $141.33.

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 for the quarter, topping the consensus estimate of $1.30 by $0.36. The business had revenue of $1.92 billion during 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 quarter last year, the business posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, analysts anticipate that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were paid a $0.40 dividend. The ex-dividend date of this dividend 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 at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the business's stock in a transaction on 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 transaction, the chief executive officer directly owned 652,434 shares in the company, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on TPR shares. Robert W. Baird boosted their price objective on Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Raymond James Financial reaffirmed an "outperform" rating and issued a $165.00 target price on shares of Tapestry in a research note on Thursday, April 23rd. Evercore set a $175.00 target price on shares of Tapestry in a research report on Friday, May 8th. Sanford C. Bernstein reissued an "outperform" rating and issued a $180.00 price target on shares of Tapestry in a research note on Tuesday, June 2nd. Finally, BTIG Research reissued a "buy" rating and issued a $180.00 price target on shares of Tapestry in a research note 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $169.88.

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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