Banque Cantonale Vaudoise Decreases Stake in Tapestry, Inc. $TPR

Banque Cantonale Vaudoise lowered its stake in Tapestry, Inc. (NYSE:TPR) by 28.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 10,215 shares of the luxury accessories retailer’s stock after selling 3,985 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Tapestry were worth $1,441,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TPR. Schroder Investment Management Group increased its stake in shares of Tapestry by 92.8% in the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock worth $1,194,678,000 after buying an additional 4,500,850 shares during the period. Norges Bank purchased a new stake in Tapestry during the 4th quarter valued at $345,349,000. Wellington Management Group LLP boosted its position in Tapestry by 632.3% during 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 buying an additional 2,043,353 shares during the period. State Street Corp grew its holdings in Tapestry by 19.3% in 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 acquiring an additional 1,494,193 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in Tapestry by 160.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer’s stock worth $213,592,000 after acquiring an additional 1,162,442 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of TPR opened at $146.24 on Friday. The company has a market capitalization of $29.55 billion, a P/E ratio of 46.87, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42. 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 firm has a 50 day moving average of $142.32 and a 200 day moving average of $140.17. Tapestry, Inc. has a twelve month low of $84.39 and a twelve month high of $161.97.

Tapestry (NYSE:TPR) last released its quarterly earnings data 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. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, equities research analysts anticipate that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal 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 dividend payout ratio is presently 51.28%.

Insiders Place Their Bets

In related news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the sale, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction dated 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 owned 652,434 shares of the company’s stock, valued at $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TPR. BTIG Research reaffirmed a “buy” rating and set a $180.00 price objective on shares of Tapestry in a research note on Wednesday, June 10th. Evercore set a $175.00 target price on Tapestry in a research note on Friday, May 8th. Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. UBS Group upped their price target on Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird increased their price objective on Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.65.

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.