Fideuram Intesa Sanpaolo Private Banking S.P.A. Reduces Stake in Tapestry, Inc. $TPR

Fideuram Intesa Sanpaolo Private Banking S.P.A. lowered its stake in Tapestry, Inc. (NYSE:TPR) by 47.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,661 shares of the luxury accessories retailer’s stock after selling 4,167 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Tapestry were worth $658,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in TPR. Schroder Investment Management Group increased its position in shares of Tapestry by 92.8% during the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock valued at $1,194,678,000 after buying an additional 4,500,850 shares during the period. Norges Bank bought a new position in shares of Tapestry in the fourth quarter valued at approximately $345,349,000. Wellington Management Group LLP boosted its position in shares of Tapestry by 632.3% in the fourth 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 grew its stake in Tapestry by 19.3% during the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock valued at $1,044,995,000 after acquiring an additional 1,494,193 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its stake in Tapestry by 160.5% during the third quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer’s stock valued at $213,592,000 after acquiring an additional 1,162,442 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TPR shares. Robert W. Baird increased 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. Evercore set a $175.00 price target on shares of Tapestry in a research report on Friday, May 8th. Weiss Ratings cut shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Citigroup increased their price objective on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $180.00 price objective on shares of Tapestry in a research note on Tuesday, June 2nd. Two 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.65.

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly 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 filing with the SEC, which is accessible 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 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Stock Performance

Tapestry stock opened at $144.19 on Friday. The firm’s fifty day moving average price is $141.69 and its 200-day moving average price is $141.05. 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 has a market cap of $29.13 billion, a P/E ratio of 46.22, a price-to-earnings-growth ratio of 1.34 and a beta of 1.43. Tapestry, Inc. has a fifty-two week low of $86.68 and a fifty-two week high of $161.97.

Tapestry (NYSE:TPR) last posted its quarterly earnings data 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 net margin of 8.44% and a return on equity of 229.70%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the firm posted $1.03 EPS. The firm’s revenue 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, equities research analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.1%. Tapestry’s payout ratio is 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.