Royal Bank of Canada Has $133.49 Million Stock Position in Tapestry, Inc. $TPR

Royal Bank of Canada lessened its holdings in Tapestry, Inc. (NYSE:TPR) by 21.2% in the first quarter, HoldingsChannel reports. The fund owned 945,972 shares of the luxury accessories retailer’s stock after selling 255,086 shares during the period. Royal Bank of Canada’s holdings in Tapestry were worth $133,487,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Woodline Partners LP boosted its holdings in Tapestry by 25.0% in the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after purchasing an additional 3,495 shares during the period. Acadian Asset Management LLC bought a new position in shares of Tapestry during the first quarter worth approximately $493,000. Sivia Capital Partners LLC bought a new position in shares of Tapestry during the second quarter worth approximately $602,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Tapestry in the second quarter valued at approximately $6,307,000. Finally, Brown Advisory Inc. raised its position in shares of Tapestry by 13.8% in the second 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 in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TPR has been the topic of a number of analyst reports. Wall Street Zen raised Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Tapestry in a report on Tuesday, June 2nd. Evercore set a $175.00 target price on Tapestry in a research report on Friday, May 8th. Zacks Research lowered Tapestry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, Robert W. Baird raised their price target on Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $173.50.

Tapestry Stock Up 1.5%

Shares of TPR opened at $152.34 on Friday. Tapestry, Inc. has a one year low of $92.62 and a one year high of $161.97. The company has a market cap of $30.78 billion, a P/E ratio of 48.83, a P/E/G ratio of 1.37 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. The firm has a 50 day simple moving average of $143.71 and a two-hundred day simple moving average of $143.07.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the business posted $1.03 EPS. The company’s 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. Research analysts forecast that Tapestry, Inc. will post 6.97 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, June 5th. Tapestry’s dividend payout ratio is currently 51.28%.

Insider Activity

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction dated 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 transaction, the chief executive officer owned 652,434 shares in the company, valued at $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction dated 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. The trade was a 13.69% decrease in their position. The SEC filing for this sale provides additional information. Company 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.