Skandinaviska Enskilda Banken AB publ Invests $6.34 Million in Tapestry, Inc. $TPR

Skandinaviska Enskilda Banken AB publ purchased a new stake in Tapestry, Inc. (NYSE:TPR) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 56,000 shares of the luxury accessories retailer’s stock, valued at approximately $6,340,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Schroder Investment Management Group raised its stake in shares of Tapestry by 1,661.6% during the second quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock worth $351,487,000 after purchasing an additional 3,775,593 shares during the last quarter. Norges Bank acquired a new position in Tapestry in the 2nd quarter valued at $227,248,000. Massachusetts Financial Services Co. MA raised its position in Tapestry by 250.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock worth $277,295,000 after buying an additional 1,750,566 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Tapestry by 36.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock worth $311,388,000 after acquiring an additional 939,227 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Tapestry by 2,547.4% in the second quarter. Marshall Wace LLP now owns 955,667 shares of the luxury accessories retailer’s stock valued at $83,917,000 after buying an additional 919,569 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Price Performance

TPR opened at $152.25 on Friday. Tapestry, Inc. has a 52-week low of $58.39 and a 52-week high of $158.28. The company has a 50 day moving average of $134.25 and a two-hundred day moving average of $117.75. The company has a market cap of $30.82 billion, a P/E ratio of 62.91, a P/E/G ratio of 1.90 and a beta of 1.63. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32.

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

Tapestry announced that its board has initiated a stock repurchase program on Thursday, November 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the luxury accessories retailer to repurchase up to 4.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be given a $0.40 dividend. 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 (DPR) is 66.12%.

Insider Activity at Tapestry

In other news, insider Denise Kulikowsky sold 9,166 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $155.62, for a total transaction of $1,426,412.92. Following the transaction, the insider directly owned 26,942 shares of the company’s stock, valued at approximately $4,192,714.04. The trade was a 25.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Manesh Dadlani sold 2,147 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $153.47, for a total transaction of $329,500.09. Following the sale, the vice president directly owned 18,475 shares of the company’s stock, valued at approximately $2,835,358.25. The trade was a 10.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 175,883 shares of company stock valued at $26,471,214. 1.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TPR shares. Robert W. Baird set a $160.00 price objective on shares of Tapestry in a research note on Friday, February 6th. Sanford C. Bernstein reissued an “outperform” rating and set a $170.00 price objective on shares of Tapestry in a research note on Friday, February 6th. BTIG Research increased their price objective on shares of Tapestry from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 6th. UBS Group reaffirmed a “neutral” rating and set a $141.00 price target on shares of Tapestry in a research report on Monday, February 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $147.00.

Tapestry Company 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.