Lombard Odier Asset Management Switzerland SA Takes Position in Tapestry, Inc. $TPR

Lombard Odier Asset Management Switzerland SA bought a new position in shares of Tapestry, Inc. (NYSE:TPR) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,216 shares of the luxury accessories retailer’s stock, valued at approximately $1,724,000.

Several other institutional investors have also recently added to or reduced their stakes in TPR. Lombard Odier Asset Management USA Corp acquired a new stake in Tapestry during the 1st quarter worth approximately $301,000. Waverly Advisors LLC increased its holdings in shares of Tapestry by 5.8% in the first quarter. Waverly Advisors LLC now owns 5,197 shares of the luxury accessories retailer’s stock valued at $733,000 after purchasing an additional 283 shares during the period. Cumberland Partners Ltd acquired a new position in shares of Tapestry in the first quarter valued at approximately $2,399,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Tapestry by 230.1% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 92,721 shares of the luxury accessories retailer’s stock worth $13,084,000 after purchasing an additional 64,631 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd raised its stake in shares of Tapestry by 6.4% during the first quarter. Dai ichi Life Insurance Company Ltd now owns 9,005 shares of the luxury accessories retailer’s stock worth $1,271,000 after purchasing an additional 545 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling

In related 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 value 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 $86,701,954.26. This trade represents a 4.08% decrease in their position. The transaction 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 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 transaction, the chief executive officer directly 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 SEC filing for this sale provides additional information. 1.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TPR. JPMorgan Chase & Co. lifted their price objective on shares of Tapestry from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Raymond James Financial restated an “outperform” rating and set a $165.00 price objective on shares of Tapestry in a research report on Thursday, April 23rd. Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Robert W. Baird lifted their target price on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings lowered shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $170.06.

Tapestry Trading Up 3.4%

Shares of TPR stock opened at $147.52 on Tuesday. The business’s fifty day moving average price is $142.78 and its 200 day moving average price is $142.69. The firm has a market capitalization of $29.80 billion, a PE ratio of 47.28, a P/E/G ratio of 1.30 and a beta of 1.43. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. Tapestry, Inc. has a 1-year low of $92.62 and a 1-year high of $161.97.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.79 billion. During the same period in the prior year, the company posted $1.03 EPS. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, sell-side analysts forecast that Tapestry, Inc. will post 6.97 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders 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 (DPR) is 51.28%.

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.