SEB Asset Management AB Buys Shares of 421,834 Tapestry, Inc. $TPR

SEB Asset Management AB purchased a new stake in Tapestry, Inc. (NYSE:TPR) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 421,834 shares of the luxury accessories retailer’s stock, valued at approximately $59,525,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TPR. Woodline Partners LP grew its position in Tapestry by 25.0% in the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after acquiring an additional 3,495 shares during the period. Acadian Asset Management LLC purchased a new stake in Tapestry in the first quarter valued at $493,000. Sivia Capital Partners LLC purchased a new stake in Tapestry in the second quarter valued at $602,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Tapestry in the 2nd quarter valued at $6,307,000. Finally, Brown Advisory Inc. lifted its stake in shares of Tapestry by 13.8% in the 2nd quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock valued at $319,000 after purchasing an additional 439 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of research analyst reports. Evercore set a $175.00 price target on Tapestry in a report on Friday, May 8th. Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings cut shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. increased their target price on shares of Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Finally, Barclays lifted their price target on shares of Tapestry from $179.00 to $182.00 and gave the company an “overweight” rating in a research report on Thursday. Two equities 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $170.06.

Tapestry Trading Down 1.9%

TPR opened at $141.43 on Friday. Tapestry, Inc. has a 52 week low of $92.62 and a 52 week high of $161.97. 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 business has a fifty day simple moving average of $141.43 and a 200-day simple moving average of $142.04. The firm has a market cap of $28.57 billion, a P/E ratio of 45.33, a P/E/G ratio of 1.30 and a beta of 1.43.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.36. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the previous year, the business earned $1.03 EPS. The company’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, equities analysts expect that Tapestry, Inc. will post 6.96 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently declared 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. The ex-dividend date 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 51.28%.

Insider Activity

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

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.