Mediolanum International Funds Ltd Acquires 38,415 Shares of Tapestry, Inc. $TPR

Mediolanum International Funds Ltd increased its holdings in Tapestry, Inc. (NYSE:TPR) by 279.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,150 shares of the luxury accessories retailer’s stock after buying an additional 38,415 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Tapestry were worth $7,140,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Schroder Investment Management Group raised its position in 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 acquiring an additional 4,500,850 shares during the period. Norges Bank bought a new stake in shares of Tapestry during the 4th quarter valued at $345,349,000. Wellington Management Group LLP grew its position in shares of 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 acquiring an additional 2,043,353 shares during the period. State Street Corp increased its stake in shares of 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 purchasing an additional 1,494,193 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its stake in shares of 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 purchasing an additional 1,162,442 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Sanford C. Bernstein reiterated an “outperform” rating and set a $180.00 target price on shares of Tapestry in a research report on Tuesday, June 2nd. BTIG Research restated a “buy” rating and issued a $180.00 price target on shares of Tapestry in a research report on Wednesday, June 10th. Evercore set a $175.00 price objective on Tapestry in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on Tapestry from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Finally, Weiss Ratings downgraded Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.06.

Insider Activity at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction that occurred 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 owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 652,434 shares in the company, valued at approximately $86,701,954.26. This represents a 4.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by company insiders.

Tapestry Trading Down 0.3%

Shares of Tapestry stock opened at $141.06 on Tuesday. The company has a market capitalization of $28.50 billion, a P/E ratio of 45.21, a P/E/G ratio of 1.30 and a beta of 1.43. 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 company has a fifty day moving average of $141.58 and a 200 day moving average of $142.21. Tapestry, Inc. has a fifty-two week low of $92.62 and a fifty-two week high of $161.97.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the business posted $1.03 EPS. Tapestry’s revenue for the quarter was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, sell-side analysts anticipate that Tapestry, Inc. will post 6.96 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.1%. Tapestry’s dividend payout ratio (DPR) is currently 51.28%.

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.