LGT Fund Management Co Ltd. Takes Position in Tapestry, Inc. $TPR

LGT Fund Management Co Ltd. acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 26,500 shares of the luxury accessories retailer’s stock, valued at approximately $3,739,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPR. State Street Corp raised its position in shares of Tapestry by 3.8% during the 4th quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock worth $1,223,795,000 after buying an additional 348,334 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Tapestry by 92.8% in the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock valued at $1,194,678,000 after acquiring an additional 4,500,850 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Tapestry by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock valued at $753,482,000 after acquiring an additional 203,764 shares during the period. AQR Capital Management LLC increased its stake in shares of Tapestry by 21.4% during the third quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock valued at $487,708,000 after acquiring an additional 760,646 shares during the period. Finally, Morgan Stanley raised its holdings in Tapestry by 8.9% during the fourth quarter. Morgan Stanley now owns 3,327,212 shares of the luxury accessories retailer’s stock worth $425,118,000 after purchasing an additional 270,973 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TPR shares. Robert W. Baird upped their target price on Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein restated an “outperform” rating and set a $180.00 price objective on shares of Tapestry in a research report on Tuesday, June 2nd. Citigroup lifted their price objective on shares of Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. BTIG Research reissued a “buy” rating and set a $180.00 target price on shares of Tapestry in a research note on Wednesday, June 10th. Finally, Raymond James Financial restated an “outperform” rating and set a $165.00 target price on shares of Tapestry in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and a consensus price target of $169.88.

Insiders Place Their Bets

In other news, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total value of $3,691,152.64. Following the transaction, the chief executive officer owned 652,434 shares in the company, valued at $86,701,954.26. This 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 owned by corporate insiders.

Tapestry Price Performance

TPR stock opened at $141.12 on Monday. Tapestry, Inc. has a one year low of $92.62 and a one year high of $161.97. The firm has a 50-day moving average of $141.47 and a two-hundred day moving average of $141.79. The firm has a market capitalization of $28.51 billion, a PE ratio of 45.23, a P/E/G ratio of 1.29 and a beta of 1.43. 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 released its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share 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 business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the firm posted $1.03 earnings per share. The firm’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. On average, analysts forecast that Tapestry, Inc. will post 6.96 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, June 5th. Tapestry’s 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.