Allspring Global Investments Holdings LLC Buys 32,032 Shares of Tapestry, Inc. $TPR

Allspring Global Investments Holdings LLC boosted its position in shares of Tapestry, Inc. (NYSE:TPR) by 221.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,470 shares of the luxury accessories retailer’s stock after buying an additional 32,032 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Tapestry were worth $6,708,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TPR. World Investment Advisors grew its position in Tapestry by 3.6% in the first quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer’s stock valued at $279,000 after acquiring an additional 69 shares during the last quarter. Horizon Bancorp Inc. IN increased its position in Tapestry by 4.7% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,575 shares of the luxury accessories retailer’s stock valued at $222,000 after acquiring an additional 71 shares during the period. Smartleaf Asset Management LLC increased its holdings in 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 purchasing an additional 73 shares during the period. Northwest Wealth Management LLC raised its position in shares of Tapestry by 3.4% during the fourth quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer’s stock worth $315,000 after acquiring an additional 82 shares during the last quarter. Finally, Fulton Bank N.A. raised its holdings in Tapestry by 2.8% during 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 last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Activity at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were 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 directly owned 652,434 shares in the company, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 company’s stock in a transaction dated 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 sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TPR has been the subject of several research analyst reports. Citigroup lifted 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. UBS Group raised their price objective on shares of Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $180.00 target price on shares of Tapestry in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. boosted their price target on shares of Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Finally, Morgan Stanley restated an “overweight” rating and issued a $164.00 price objective on shares of Tapestry in a research note on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $170.06.

Tapestry Trading Down 3.4%

NYSE:TPR opened at $138.78 on Friday. Tapestry, Inc. has a 1 year low of $92.62 and a 1 year high of $161.97. The stock’s fifty day moving average price is $142.18 and its two-hundred day moving average price is $142.49. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. The company has a market cap of $28.04 billion, a P/E ratio of 44.48, a P/E/G ratio of 1.32 and a beta of 1.43.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating 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 previous year, the firm earned $1.03 EPS. The company’s quarterly 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. As a group, analysts expect that Tapestry, Inc. will post 6.97 EPS for the current year.

Tapestry Announces Dividend

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. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, June 5th. Tapestry’s payout ratio is presently 51.28%.

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.