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

Banque Cantonale Vaudoise lowered its stake in shares of Tapestry, Inc. (NYSE:TPR) by 28.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,215 shares of the luxury accessories retailer’s stock after selling 3,985 shares during the period. Banque Cantonale Vaudoise’s holdings in Tapestry were worth $1,441,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TPR. State Street Corp lifted its stake in Tapestry by 3.8% in the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock valued at $1,223,795,000 after purchasing an additional 348,334 shares during the last quarter. Schroder Investment Management Group increased 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 buying an additional 4,500,850 shares during the last quarter. Geode Capital Management LLC increased its position in Tapestry by 3.6% in the fourth 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 last quarter. AQR Capital Management LLC raised its stake in shares of Tapestry by 21.4% in the third quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock valued at $487,708,000 after buying an additional 760,646 shares during the period. Finally, Morgan Stanley raised its stake in shares of Tapestry by 8.9% in the fourth quarter. Morgan Stanley now owns 3,327,212 shares of the luxury accessories retailer’s stock valued at $425,118,000 after buying an additional 270,973 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of Tapestry 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 transaction, the chief executive officer owned 123,258 shares in the company, valued at $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 is available through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the completion of the sale, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at $86,701,954.26. This represents a 4.08% decrease in their ownership of the stock. 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. 1.32% of the stock is currently owned by company insiders.

Tapestry Stock Performance

Shares of NYSE TPR opened at $146.24 on Friday. The stock’s 50-day moving average is $142.32 and its 200 day moving average is $140.17. The stock has a market cap of $29.55 billion, a price-to-earnings ratio of 46.87, a P/E/G ratio of 1.48 and a beta of 1.42. Tapestry, Inc. has a 1-year low of $84.39 and a 1-year high of $161.97. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48.

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, topping 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 during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Tapestry’s revenue for the quarter was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, sell-side analysts anticipate that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.1%. Tapestry’s dividend payout ratio is 51.28%.

Analysts Set New Price Targets

A number of research analysts have recently commented on TPR shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $180.00 price target on shares of Tapestry in a research report on Tuesday, June 2nd. Weiss Ratings lowered shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Robert W. Baird lifted their target price on shares of Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. UBS Group lifted their target price on shares of Tapestry from $187.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Raymond James Financial reissued an “outperform” rating and issued a $165.00 price target on shares of Tapestry in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $167.65.

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.