Comerica Bank Has $65.26 Million Position in Tapestry, Inc. $TPR

Comerica Bank cut its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 22.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 576,359 shares of the luxury accessories retailer’s stock after selling 171,600 shares during the quarter. Comerica Bank owned approximately 0.28% of Tapestry worth $65,255,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fisher Asset Management LLC boosted its holdings in shares of Tapestry by 21.7% during the 3rd quarter. Fisher Asset Management LLC now owns 608,266 shares of the luxury accessories retailer’s stock worth $68,868,000 after buying an additional 108,278 shares during the period. DNB Asset Management AS raised its holdings in Tapestry by 1,331.4% in the 3rd quarter. DNB Asset Management AS now owns 39,478 shares of the luxury accessories retailer’s stock valued at $4,470,000 after acquiring an additional 36,720 shares during the period. Great Diamond Partners LLC bought a new position in Tapestry in the 3rd quarter valued at about $2,395,000. Three Seasons Wealth LLC acquired a new stake in Tapestry during the third quarter worth approximately $1,882,000. Finally, Stevens Capital Partners bought a new stake in shares of Tapestry during the third quarter worth approximately $8,880,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 2,147 shares of Tapestry stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $153.47, for a total value of $329,500.09. Following the transaction, the vice president owned 18,475 shares in the company, valued at approximately $2,835,358.25. This trade represents a 10.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of Tapestry stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total value of $7,556,881.65. Following the completion of the transaction, the chief executive officer owned 671,193 shares in the company, valued at approximately $103,947,659.91. This represents a 6.78% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 164,956 shares of company stock worth $25,297,262. 1.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TPR has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Wall Street Zen downgraded Tapestry from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. BTIG Research boosted their target price on shares of Tapestry from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 6th. The Goldman Sachs Group set a $166.00 price target on shares of Tapestry in a research note on Friday, February 6th. Finally, Barclays set a $179.00 price objective on shares of Tapestry and gave the company an “overweight” rating in a report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $151.06.

Tapestry Stock Down 0.4%

TPR stock opened at $142.12 on Friday. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $161.97. The business has a 50-day simple moving average of $141.96 and a 200 day simple moving average of $122.94. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. The company has a market cap of $28.77 billion, a PE ratio of 58.73, a price-to-earnings-growth ratio of 1.71 and a beta of 1.55.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, beating the consensus estimate of $2.20 by $0.49. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.29 billion. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the firm earned $2.00 EPS. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Sell-side analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, March 6th. This represents a $1.60 annualized dividend and a yield of 1.1%. Tapestry’s dividend payout ratio is presently 66.12%.

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.