Lansforsakringar Fondforvaltning AB publ Lowers Holdings in Tapestry, Inc. $TPR

Lansforsakringar Fondforvaltning AB publ lowered its stake in shares of Tapestry, Inc. (NYSE:TPR) by 9.0% in the first quarter, HoldingsChannel reports. The fund owned 63,592 shares of the luxury accessories retailer’s stock after selling 6,304 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Tapestry were worth $8,973,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Acumen Wealth Advisors LLC purchased a new stake in shares of Tapestry during the 4th quarter valued at $28,000. Triumph Capital Management purchased a new position in shares of Tapestry in the 3rd quarter worth $29,000. Steph & Co. boosted its holdings in Tapestry by 128.7% in the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock valued at $30,000 after acquiring an additional 130 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in Tapestry in the fourth quarter valued at $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Tapestry during the fourth quarter valued at about $32,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Argus set a $165.00 price objective on Tapestry in a report on Thursday, March 12th. Citigroup raised their price target on shares of Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Evercore set a $175.00 price objective on shares of Tapestry in a research note on Friday, May 8th. Raymond James Financial reissued an “outperform” rating and issued a $165.00 price objective on shares of Tapestry in a research report on Thursday, April 23rd. Finally, Weiss Ratings lowered shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Two 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 stock. According to MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $167.65.

Tapestry Price Performance

Shares of TPR stock opened at $144.15 on Thursday. The firm has a fifty day simple moving average of $141.86 and a 200-day simple moving average of $140.88. The company has a market capitalization of $29.12 billion, a PE ratio of 46.20, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42. Tapestry, Inc. has a twelve month low of $84.39 and a twelve month high of $161.97. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities research analysts anticipate that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors 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 dividend on an annualized basis and a yield of 1.1%. Tapestry’s dividend payout ratio is currently 51.28%.

Insider Transactions at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s stock in a transaction that occurred on 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 $86,701,954.26. This trade represents a 4.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of Tapestry 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 sale, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.32% of the company’s stock.

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.