Allianz Asset Management GmbH Increases Holdings in Tapestry, Inc. $TPR

Allianz Asset Management GmbH raised its stake in shares of Tapestry, Inc. (NYSE:TPR) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,120,758 shares of the luxury accessories retailer’s stock after buying an additional 13,043 shares during the period. Allianz Asset Management GmbH’s holdings in Tapestry were worth $143,199,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Triumph Capital Management purchased a new stake in Tapestry during the 3rd quarter valued at $29,000. Steph & Co. raised its stake in Tapestry by 128.7% during the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock valued at $30,000 after buying an additional 130 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Tapestry during the 4th quarter valued at $31,000. Cornerstone Planning Group LLC increased its holdings in Tapestry by 2,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer’s stock valued at $36,000 after buying an additional 272 shares during the last quarter. Finally, Sound Income Strategies LLC increased its holdings in Tapestry by 157.4% during the fourth quarter. Sound Income Strategies LLC now owns 314 shares of the luxury accessories retailer’s stock valued at $41,000 after buying an additional 192 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on TPR shares. Raymond James Financial reaffirmed an “outperform” rating and set a $165.00 target price on shares of Tapestry in a report on Thursday, April 23rd. JPMorgan Chase & Co. upped their target price on shares of Tapestry from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Evercore set a $175.00 target price on shares of Tapestry in a report on Friday, May 8th. Citigroup upped their target price on shares of Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $180.00 target price on shares of Tapestry in a report on Tuesday, June 2nd. Two equities research 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.22.

Tapestry Price Performance

Shares of NYSE:TPR opened at $145.42 on Wednesday. Tapestry, Inc. has a fifty-two week low of $78.59 and a fifty-two week high of $161.97. 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 firm has a fifty day moving average price of $142.02 and a 200 day moving average price of $136.98. The firm has a market cap of $29.38 billion, a price-to-earnings ratio of 46.61, a P/E/G ratio of 1.43 and a beta of 1.42.

Tapestry (NYSE:TPR) last released its quarterly earnings data 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. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the business earned $1.03 earnings per share. Tapestry’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, sell-side analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal year.

Tapestry Announces Dividend

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

Insider Activity

In other news, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 123,258 shares in the company, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s stock in a transaction dated 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 owned 652,434 shares of the company’s stock, valued at $86,701,954.26. This trade represents 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 company insiders.

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.