Swedbank AB Lowers Position in Tapestry, Inc. $TPR

Swedbank AB cut its position in shares of Tapestry, Inc. (NYSE:TPR) by 1.7% during the 1st quarter, HoldingsChannel reports. The firm owned 1,073,717 shares of the luxury accessories retailer’s stock after selling 18,553 shares during the period. Swedbank AB’s holdings in Tapestry were worth $151,512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in shares of Tapestry by 23.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 217,408 shares of the luxury accessories retailer’s stock worth $24,615,000 after purchasing an additional 41,556 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in Tapestry during the fourth quarter valued at approximately $8,109,000. Advisory Research Inc. grew its position in Tapestry by 30.1% during the third quarter. Advisory Research Inc. now owns 228,107 shares of the luxury accessories retailer’s stock valued at $25,826,000 after buying an additional 52,747 shares during the period. Schroder Investment Management Group grew its position in Tapestry by 21.1% during the third quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock valued at $549,046,000 after buying an additional 846,553 shares during the period. Finally, WINTON GROUP Ltd increased its holdings in Tapestry by 44.7% during the third quarter. WINTON GROUP Ltd now owns 56,024 shares of the luxury accessories retailer’s stock valued at $6,343,000 after buying an additional 17,302 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Price Performance

Shares of NYSE:TPR traded up $1.01 during trading on Tuesday, hitting $146.50. 353,742 shares of the company’s stock were exchanged, compared to its average volume of 2,364,831. The business’s 50-day simple moving average is $141.67 and its 200 day simple moving average is $141.33. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. Tapestry, Inc. has a 52-week low of $90.67 and a 52-week high of $161.97. The company has a market cap of $29.60 billion, a price-to-earnings ratio of 46.97, a PEG ratio of 1.34 and a beta of 1.43.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.36. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, equities analysts predict that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

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

Wall Street Analyst Weigh In

TPR has been the topic of several recent research reports. Sanford C. Bernstein reiterated an “outperform” rating and issued a $180.00 price target on shares of Tapestry in a research report on Tuesday, June 2nd. BTIG Research reissued a “buy” rating and set a $180.00 price objective on shares of Tapestry in a research report on Wednesday, June 10th. Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Argus set a $165.00 target price on Tapestry in a report on Thursday, March 12th. Finally, UBS Group lifted their target price on Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and an average price target of $169.88.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction on 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 sale, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. The trade was a 13.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the 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 transaction, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at $86,701,954.26. This trade represents a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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.