BI Asset Management Fondsmaeglerselskab A S Purchases 94,106 Shares of Tapestry, Inc. $TPR

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 155.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 154,652 shares of the luxury accessories retailer’s stock after purchasing an additional 94,106 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Tapestry were worth $21,823,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Acumen Wealth Advisors LLC bought a new stake in Tapestry during the fourth quarter valued at approximately $28,000. Triumph Capital Management bought a new position in Tapestry in the third quarter worth approximately $29,000. Steph & Co. boosted its stake in shares of Tapestry by 128.7% during the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock worth $30,000 after acquiring an additional 130 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Tapestry during the 4th quarter worth $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Tapestry during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

TPR has been the subject of several analyst reports. Weiss Ratings lowered Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Sanford C. Bernstein reissued an “outperform” rating and set a $180.00 price target on shares of Tapestry in a report on Tuesday, June 2nd. Citigroup upped their price target on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Evercore set a $175.00 price objective on Tapestry in a research note on Friday, May 8th. Two 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.12.

Insider Activity

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the 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 in the company, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the transaction, the chief executive officer owned 123,258 shares of the company’s stock, valued at $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

Shares of NYSE TPR opened at $144.07 on Friday. The firm has a fifty day moving average price of $142.60 and a 200-day moving average price of $138.94. 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 stock has a market cap of $29.11 billion, a PE ratio of 46.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42. Tapestry, Inc. has a 1 year low of $83.26 and a 1 year high of $161.97.

Tapestry (NYSE:TPR) last announced 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. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company’s revenue was up 21.2% on a year-over-year basis. During the same period last year, the firm earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities analysts anticipate that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is 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%.

Tapestry Company 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.