Swiss Life Asset Management Ltd Buys 38,339 Shares of Tapestry, Inc. $TPR

Key Points

• Swiss Life Asset Management increased its Tapestry stake by 72.7% in the fourth quarter, buying 38,339 additional shares and bringing its total holdings to 91,073 shares worth about $11.6 million.
• Tapestry reported strong quarterly results, with EPS of $1.66 beating estimates and revenue of $1.92 billion topping forecasts, while same-quarter revenue rose 21.2% year over year.
• Wall Street sentiment remains positive, with multiple analyst upgrades and price targets around $160-$179, while Tapestry also announced a quarterly dividend of $0.40 per share, payable June 22.

Swiss Life Asset Management Ltd lifted its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 72.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,073 shares of the luxury accessories retailer's stock after acquiring an additional 38,339 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Tapestry were worth $11,636,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its position in Tapestry by 250.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer's stock valued at $277,295,000 after buying an additional 1,750,566 shares during the period. State Street Corp grew its position in Tapestry by 19.3% during the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer's stock valued at $1,044,995,000 after buying an additional 1,494,193 shares during the period. Voloridge Investment Management LLC grew its position in Tapestry by 160.5% during the third quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer's stock valued at $213,592,000 after buying an additional 1,162,442 shares during the period. Two Sigma Investments LP grew its position in Tapestry by 426.8% during the third quarter. Two Sigma Investments LP now owns 1,122,520 shares of the luxury accessories retailer's stock valued at $127,092,000 after buying an additional 909,433 shares during the period. Finally, Barclays PLC grew its position in Tapestry by 191.9% during the third quarter. Barclays PLC now owns 1,297,394 shares of the luxury accessories retailer's stock valued at $146,891,000 after buying an additional 852,908 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Barclays set a $179.00 target price on shares of Tapestry and gave the company an "overweight" rating in a research report on Friday, February 6th. Evercore set a $175.00 target price on shares of Tapestry in a research report on Friday. Raymond James Financial restated an "outperform" rating and set a $165.00 target price on shares of Tapestry in a research report on Thursday, April 23rd. Finally, Robert W. Baird boosted their target price on shares of Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Tapestry has an average rating of "Moderate Buy" and an average target price of $160.67.

Tapestry Price Performance

TPR stock opened at $131.75 on Wednesday. Tapestry, Inc. has a one year low of $76.29 and a one year high of $161.97. The company's fifty day moving average price is $144.95 and its 200-day moving average price is $132.60. 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 company has a market capitalization of $26.62 billion, a PE ratio of 42.23, a price-to-earnings-growth ratio of 1.35 and a beta of 1.45.

Tapestry (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping the consensus estimate of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The company's quarterly revenue was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, equities analysts anticipate that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry's payout ratio is 51.28%.

Insider Buying and Selling at Tapestry

In other news, Director Thomas Greco sold 14,245 shares of the business's stock in a transaction on Tuesday, February 17th. The shares were 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 of the company's stock, valued at approximately $3,289,880.88. The trade was a 40.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the business's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the completion of the transaction, the chief executive officer directly owned 671,193 shares in the company, valued at $103,947,659.91. This trade represents a 6.78% decrease in their position. The SEC filing for this sale provides additional information. 1.32% of the stock is currently owned by insiders.

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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