Candriam S.C.A. Has $24.39 Million Position in Tapestry, Inc. $TPR

Candriam S.C.A. cut its holdings in Tapestry, Inc. (NYSE:TPR) by 17.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 172,856 shares of the luxury accessories retailer’s stock after selling 36,623 shares during the period. Candriam S.C.A.’s holdings in Tapestry were worth $24,392,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Citigroup upped their price target on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Evercore set a $175.00 target price on Tapestry in a research report on Friday, May 8th. Raymond James Financial reissued an “outperform” rating and issued a $165.00 price target on shares of Tapestry in a research report on Thursday, April 23rd. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Finally, Weiss Ratings cut shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Two equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $169.88.

Insider Buying and Selling

In other news, 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 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 SEC, which is available at this hyperlink. 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 transaction of $2,738,371.14. Following the completion of the sale, the chief executive officer directly owned 123,258 shares in the company, valued at $17,258,585.16. This trade represents a 13.69% decrease in their position. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by corporate insiders.

Tapestry Stock Up 0.9%

NYSE:TPR traded up $1.20 on Friday, hitting $141.12. The stock had a trading volume of 1,413,179 shares, compared to its average volume of 2,637,429. Tapestry, Inc. has a 1 year low of $92.62 and a 1 year high of $161.97. The firm’s fifty day simple moving average is $141.47 and its two-hundred day simple moving average is $141.71. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The stock has a market cap of $28.51 billion, a P/E ratio of 45.23, a price-to-earnings-growth ratio of 1.29 and a beta of 1.43.

Tapestry (NYSE:TPR) last released its earnings results 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. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.Tapestry’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Analysts predict that Tapestry, Inc. will post 6.96 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 5th. Tapestry’s dividend payout ratio is currently 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.