Tapestry, Inc. $TPR Shares Purchased by Swiss National Bank

Key Points

• Swiss National Bank increased its Tapestry stake by 4.8% in the first quarter, ending with 600,579 shares valued at about $84.7 million.
• Tapestry reported strong quarterly results, with earnings of $1.66 per share and revenue of $1.92 billion, both above analyst expectations; revenue also rose 21.2% year over year.
• Analysts remain largely positive on the stock, with a Moderate Buy consensus and an average price target of $170.06, while the company also pays a quarterly dividend of $0.40 per share.

Swiss National Bank grew its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 4.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 600,579 shares of the luxury accessories retailer's stock after acquiring an additional 27,700 shares during the period. Swiss National Bank owned about 0.30% of Tapestry worth $84,748,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Schroder Investment Management Group grew its stake in Tapestry by 92.8% during the 4th quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer's stock valued at $1,194,678,000 after purchasing an additional 4,500,850 shares in the last quarter. Norges Bank acquired a new position in shares of Tapestry in the 4th quarter valued at approximately $345,349,000. Wellington Management Group LLP raised its position in shares of Tapestry by 632.3% in the 4th quarter. Wellington Management Group LLP now owns 2,366,502 shares of the luxury accessories retailer's stock valued at $302,368,000 after purchasing an additional 2,043,353 shares in the last quarter. State Street Corp boosted its stake in shares of Tapestry by 19.3% during the 3rd 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 last quarter. Finally, Voloridge Investment Management LLC boosted its stake in shares of Tapestry by 160.5% during the 3rd 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 last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TPR. Wall Street Zen raised shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. BTIG Research reiterated a "buy" rating and set a $180.00 price objective on shares of Tapestry in a research note on Wednesday, June 10th. Weiss Ratings lowered shares of Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 20th. UBS Group boosted their target price on shares of Tapestry from $187.00 to $230.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Finally, Robert W. Baird upped their target price 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. Two research 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $170.06.

Tapestry Stock Performance

Shares of TPR opened at $141.06 on Tuesday. The firm has a fifty day moving average of $141.58 and a 200-day moving average of $142.21. The company has a market cap of $28.50 billion, a price-to-earnings ratio of 45.21, a price-to-earnings-growth ratio of 1.30 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. Tapestry, Inc. has a 1 year low of $92.62 and a 1 year high of $161.97.

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 analysts' consensus estimates of $1.30 by $0.36. The business had revenue of $1.92 billion for the quarter, compared to analysts' expectations of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, equities analysts anticipate that Tapestry, Inc. will post 6.96 earnings per share for the current year.

Tapestry Announces Dividend

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

Insider Buying and Selling

In related news, CEO Todd Kahn sold 19,557 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the sale, the chief executive officer directly owned 123,258 shares in the company, valued at $17,258,585.16. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total value of $3,691,152.64. Following the sale, the chief executive officer directly owned 652,434 shares in the company, valued at $86,701,954.26. The trade was a 4.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company's stock.

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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