Tapestry, Inc. $TPR Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 80.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 49,251 shares of the luxury accessories retailer’s stock after buying an additional 22,015 shares during the period. CIBC Asset Management Inc’s holdings in Tapestry were worth $6,293,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. State Street Corp raised 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 worth $1,044,995,000 after buying an additional 1,494,193 shares during the period. Geode Capital Management LLC raised its stake in shares of Tapestry by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock worth $753,482,000 after buying an additional 203,764 shares during the period. Schroder Investment Management Group raised its stake in shares of Tapestry by 21.1% during the 3rd quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock worth $549,046,000 after buying an additional 846,553 shares during the period. AQR Capital Management LLC raised its stake in shares of Tapestry by 21.4% during the 3rd quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock worth $487,708,000 after buying an additional 760,646 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Tapestry by 7.6% during the 3rd quarter. Northern Trust Corp now owns 2,870,821 shares of the luxury accessories retailer’s stock worth $325,034,000 after buying an additional 203,520 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TPR has been the subject of several research analyst reports. Citigroup upped their target price on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. BNP Paribas Exane initiated coverage on Tapestry in a research note on Friday, February 13th. They set an “outperform” rating and a $176.00 target price for the company. JPMorgan Chase & Co. upped their target price on Tapestry from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Argus set a $165.00 price target on Tapestry in a research report on Thursday, March 12th. Finally, BTIG Research reiterated a “buy” rating and set a $180.00 price target on shares of Tapestry in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $161.22.

Tapestry Stock Down 0.4%

Shares of NYSE:TPR opened at $139.95 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The business has a fifty day moving average of $141.90 and a two-hundred day moving average of $136.18. The stock has a market cap of $28.28 billion, a P/E ratio of 44.86, a PEG ratio of 1.42 and a beta of 1.42. Tapestry, Inc. has a 52-week low of $77.86 and a 52-week high of $161.97.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.36. The company had revenue of $1.92 billion during 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%.The firm’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, research analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, June 5th. Tapestry’s dividend payout ratio is presently 51.28%.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 652,434 shares in the company, valued at $86,701,954.26. This represents a 4.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 company’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 completion of the sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by corporate insiders.

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.