Swiss Life Asset Management Ltd Increases Position in Tapestry, Inc. $TPR

Key Points

• Swiss Life Asset Management Ltd boosted its stake in Tapestry by 881.5% in Q3, buying an additional 47,361 shares to hold 52,734 shares valued at about $5.97 million.
• Tapestry reported a strong quarter—EPS $2.69 vs. $2.20 expected and revenue $2.50B vs. $2.29B—set FY2026 guidance of $6.40–$6.45 EPS, and drew multiple analyst upgrades to a consensus Moderate Buy with an average target of $151.06.
• Despite institutional ownership of 90.77%, insiders have been net sellers recently: CEO Joanne Crevoiserat and a director were among those who sold, with 164,956 shares sold in the last 90 days worth about $25.3 million.

Swiss Life Asset Management Ltd boosted its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 881.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,734 shares of the luxury accessories retailer's stock after acquiring an additional 47,361 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Tapestry were worth $5,971,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Groupama Asset Managment bought a new stake in Tapestry during the third quarter worth about $816,000. Cambria Investment Management L.P. bought a new position in shares of Tapestry during the 3rd quarter valued at about $745,000. Connors Investor Services Inc. raised its holdings in shares of Tapestry by 3.0% during the 3rd quarter. Connors Investor Services Inc. now owns 125,040 shares of the luxury accessories retailer's stock valued at $14,157,000 after buying an additional 3,613 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Tapestry during the 3rd quarter valued at about $3,249,000. Finally, Achmea Investment Management B.V. bought a new stake in Tapestry in the 3rd quarter worth approximately $27,032,000. Institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

TPR has been the topic of a number of recent research reports. BTIG Research increased their price target on shares of Tapestry from $140.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, February 6th. Argus set a $165.00 price target on shares of Tapestry in a research note on Thursday, March 12th. BNP Paribas Exane began coverage on shares of Tapestry in a report on Friday, February 13th. They issued an "outperform" rating and a $176.00 price objective for the company. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $170.00 price objective on shares of Tapestry in a research note on Friday, February 6th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Tapestry in a report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $151.06.

Tapestry Price Performance

Shares of Tapestry stock opened at $140.55 on Friday. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.63 and a quick ratio of 1.10. Tapestry, Inc. has a one year low of $58.39 and a one year high of $161.97. The business's 50 day simple moving average is $142.92 and its two-hundred day simple moving average is $124.48. The stock has a market capitalization of $28.46 billion, a P/E ratio of 58.08, a price-to-earnings-growth ratio of 1.69 and a beta of 1.55.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.49. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the firm posted $2.00 earnings per share. The business's quarterly revenue was up 14.0% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.60 annualized dividend and a yield of 1.1%. Tapestry's dividend payout ratio is presently 66.12%.

Insiders Place Their Bets

In other news, Director Thomas Greco sold 14,245 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total transaction of $2,199,997.80. Following the completion of the transaction, the director directly owned 21,302 shares of the company's stock, valued at approximately $3,289,880.88. This represents a 40.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 671,193 shares of the company's stock, valued at approximately $103,947,659.91. This represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 164,956 shares of company stock worth $25,297,262. 1.32% of the stock is currently owned by insiders.

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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