Pictet Asset Management Holding SA Has $103.43 Million Stock Holdings in Tapestry, Inc. $TPR

Pictet Asset Management Holding SA increased its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 2.9% in the first quarter, Holdings Channel.com reports. The firm owned 733,285 shares of the luxury accessories retailer’s stock after purchasing an additional 20,351 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Tapestry were worth $103,430,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in shares of Tapestry by 2.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer’s stock valued at $477,000 after buying an additional 73 shares during the period. Northwest Wealth Management LLC boosted its stake in Tapestry by 3.4% in the 4th quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer’s stock worth $315,000 after purchasing an additional 82 shares during the period. Fulton Bank N.A. boosted its stake in Tapestry by 2.8% in the 4th quarter. Fulton Bank N.A. now owns 3,166 shares of the luxury accessories retailer’s stock worth $405,000 after purchasing an additional 87 shares during the period. CVA Family Office LLC increased its holdings in Tapestry by 23.4% during the 4th quarter. CVA Family Office LLC now owns 469 shares of the luxury accessories retailer’s stock worth $60,000 after purchasing an additional 89 shares in the last quarter. Finally, Clark Financial Services Group Inc. BD raised its stake in shares of Tapestry by 1.8% in the 4th quarter. Clark Financial Services Group Inc. BD now owns 5,701 shares of the luxury accessories retailer’s stock valued at $733,000 after purchasing an additional 103 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

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

Tapestry Price Performance

NYSE:TPR opened at $146.24 on Monday. Tapestry, Inc. has a 52-week low of $84.39 and a 52-week high of $161.97. The company has a market cap of $29.55 billion, a P/E ratio of 46.87, a P/E/G ratio of 1.48 and a beta of 1.42. 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’s 50-day simple moving average is $142.32 and its 200 day simple moving average is $140.33.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, beating the consensus estimate of $1.30 by $0.36. The firm 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 business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, sell-side analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Dividend Announcement

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

Analysts Set New Price Targets

TPR has been the subject of several recent research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Tapestry in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. boosted their target price on Tapestry from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Raymond James Financial reaffirmed an “outperform” rating and set a $165.00 price target on shares of Tapestry in a research report on Thursday, April 23rd. Weiss Ratings cut shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Finally, UBS Group lifted their price objective on shares of Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $167.65.

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.