iA Global Asset Management Inc. Has $3.91 Million Stock Position in Tapestry, Inc. $TPR

iA Global Asset Management Inc. lowered its stake in shares of Tapestry, Inc. (NYSE:TPR) by 27.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,698 shares of the luxury accessories retailer’s stock after selling 10,384 shares during the period. iA Global Asset Management Inc.’s holdings in Tapestry were worth $3,908,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Acumen Wealth Advisors LLC bought a new stake in Tapestry during the fourth quarter worth $28,000. Triumph Capital Management bought a new position in shares of Tapestry in the 3rd quarter valued at about $29,000. Steph & Co. increased 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 purchasing an additional 130 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Tapestry during the 4th quarter worth about $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Tapestry in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the subject of several recent analyst reports. Evercore set a $175.00 target price on shares of Tapestry in a research note on Friday, May 8th. Sanford C. Bernstein restated an “outperform” rating and issued a $180.00 price objective on shares of Tapestry in a research note on Tuesday, June 2nd. BTIG Research reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Tapestry in a research report on Wednesday, June 10th. Weiss Ratings downgraded Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Finally, Robert W. Baird boosted their target price on Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $167.65.

Insiders Place Their Bets

In related news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction that occurred on 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 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 SEC, which is accessible through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the completion of the transaction, the chief executive officer directly owned 652,434 shares in the company, valued at $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

NYSE TPR opened at $144.15 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The company has a market capitalization of $29.12 billion, a P/E ratio of 46.20, a P/E/G ratio of 1.48 and a beta of 1.42. Tapestry, Inc. has a 12-month low of $84.39 and a 12-month high of $161.97. The firm has a 50-day moving average price of $141.86 and a two-hundred day moving average price of $140.88.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping 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 company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the firm earned $1.03 earnings per share. The business’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. Analysts anticipate that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were issued a $0.40 dividend. 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 currently 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.