Hsbc Holdings PLC Acquires 68,429 Shares of Tapestry, Inc. $TPR

Hsbc Holdings PLC grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 17.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 454,912 shares of the luxury accessories retailer’s stock after buying an additional 68,429 shares during the quarter. Hsbc Holdings PLC owned 0.22% of Tapestry worth $64,084,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Schroder Investment Management Group boosted its holdings 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 acquiring an additional 4,500,850 shares during the period. Norges Bank purchased a new position in Tapestry in the 4th quarter worth approximately $345,349,000. Wellington Management Group LLP increased its stake in 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 worth $302,368,000 after purchasing an additional 2,043,353 shares during the period. State Street Corp lifted its position in Tapestry by 19.3% in 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 purchasing an additional 1,494,193 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its position in Tapestry by 160.5% in 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 purchasing an additional 1,162,442 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the sale, the chief executive officer owned 652,434 shares of the company’s stock, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $2,738,371.14. Following the transaction, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. This 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.

Wall Street Analyst Weigh In

TPR has been the topic of several recent analyst reports. Robert W. Baird raised their target price on shares of Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Weiss Ratings cut shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Morgan Stanley reissued an “overweight” rating and issued a $164.00 price target on shares of Tapestry in a report on Monday, July 6th. BTIG Research restated a “buy” rating and issued a $180.00 price objective on shares of Tapestry in a research report on Wednesday, June 10th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Tapestry in a research note on Tuesday, June 2nd. Two 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 company. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average target price of $170.06.

Tapestry Price Performance

TPR opened at $141.43 on Monday. 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 has a market capitalization of $28.57 billion, a PE ratio of 45.33, a price-to-earnings-growth ratio of 1.30 and a beta of 1.43. The stock’s 50 day moving average price is $141.43 and its 200-day moving average price is $142.12. Tapestry, Inc. has a 52-week low of $92.62 and a 52-week high of $161.97.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The firm’s revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, equities research analysts predict that Tapestry, Inc. will post 6.96 EPS for the current year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 5th. Tapestry’s dividend payout ratio (DPR) is currently 51.28%.

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.