Tapestry, Inc. $TPR Shares Bought by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its Tapestry stake by 234% in the fourth quarter, buying 42,417 additional shares and bringing its total holding to 60,546 shares worth about $7.7 million.
• Tapestry reported strong quarterly results, posting $1.66 EPS versus $1.30 expected and revenue of $1.92 billion versus $1.79 billion expected, with revenue up 21.2% year over year.
• The company also announced a quarterly dividend of $0.40 per share, payable June 22, alongside recent insider sales by CEO Joanne C. Crevoiserat and CEO Todd Kahn.

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 234.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 60,546 shares of the luxury accessories retailer's stock after buying an additional 42,417 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Tapestry were worth $7,736,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Pinebridge Investments LLC acquired a new position in Tapestry during the 4th quarter valued at approximately $8,331,000. Lifestyle Asset Management Inc. boosted its position in Tapestry by 4.6% during the 4th quarter. Lifestyle Asset Management Inc. now owns 18,609 shares of the luxury accessories retailer's stock valued at $2,378,000 after purchasing an additional 816 shares during the period. Harvest Fund Management Co. Ltd boosted its position in Tapestry by 45.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,176 shares of the luxury accessories retailer's stock valued at $661,000 after purchasing an additional 1,623 shares during the period. Deseret Mutual Benefit Administrators boosted its position in Tapestry by 5.6% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,506 shares of the luxury accessories retailer's stock valued at $320,000 after purchasing an additional 132 shares during the period. Finally, Vise Technologies Inc. boosted its position in Tapestry by 73.2% during the 4th quarter. Vise Technologies Inc. now owns 8,724 shares of the luxury accessories retailer's stock valued at $1,115,000 after purchasing an additional 3,686 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Down 0.4%

TPR opened at $139.95 on Friday. Tapestry, Inc. has a one year low of $77.86 and a one year high of $161.97. The company has a market capitalization of $28.28 billion, a PE ratio of 44.86, a P/E/G ratio of 1.42 and a beta of 1.42. 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 stock's fifty day moving average is $141.90 and its 200-day moving average is $136.18.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly 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 firm had revenue of $1.92 billion for 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%.Tapestry'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, equities analysts predict that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry's payout ratio is presently 51.28%.

Insider Transactions at Tapestry

In other Tapestry news, 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 in the company, valued at $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. This trade represents a 13.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.32% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TPR. Wall Street Zen upgraded Tapestry from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Weiss Ratings lowered Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. boosted their price target on Tapestry from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. TD Cowen reiterated a "buy" rating on shares of Tapestry in a research report on Tuesday, February 10th. Finally, BNP Paribas Exane started coverage on Tapestry in a research report on Friday, February 13th. They set an "outperform" rating and a $176.00 price target for the company. 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. Based on data from MarketBeat.com, Tapestry currently has an average rating of "Moderate Buy" and an average target price of $161.22.

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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