Groupama Asset Managment Sells 3,955 Shares of Tapestry, Inc. $TPR

Groupama Asset Managment lowered its stake in Tapestry, Inc. (NYSE:TPR) by 59.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,719 shares of the luxury accessories retailer’s stock after selling 3,955 shares during the quarter. Groupama Asset Managment’s holdings in Tapestry were worth $384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TPR. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Tapestry during the 4th quarter worth approximately $8,109,000. Norges Bank bought a new position in shares of Tapestry during the 4th quarter valued at approximately $345,349,000. Keystone Investors PTE Ltd. grew its holdings in shares of Tapestry by 17.4% in the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock valued at $8,001,000 after purchasing an additional 9,303 shares in the last quarter. SEB Asset Management AB bought a new stake in Tapestry in the first quarter worth $59,525,000. Finally, Aberdeen Group plc increased its position in Tapestry by 34.7% in the fourth quarter. Aberdeen Group plc now owns 47,573 shares of the luxury accessories retailer’s stock worth $6,078,000 after purchasing an additional 12,251 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Activity

In other news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 123,258 shares in the company, 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 filing with the SEC, 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 stock was sold at an average price of $132.89, for a total value of $3,691,152.64. Following the sale, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at $86,701,954.26. This represents a 4.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TPR has been the subject of several research reports. Citigroup increased their price objective on shares of Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Evercore set a $175.00 target price on shares of Tapestry in a report on Friday, May 8th. Robert W. Baird upped their target price on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Zacks Research downgraded shares of Tapestry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, BTIG Research reiterated a “buy” rating and issued a $180.00 price target on shares of Tapestry in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.50.

Tapestry Stock Up 0.1%

NYSE TPR opened at $152.57 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. Tapestry, Inc. has a 52 week low of $92.62 and a 52 week high of $161.97. The firm has a market capitalization of $30.83 billion, a price-to-earnings ratio of 48.90, a PEG ratio of 1.38 and a beta of 1.43. The company has a fifty day moving average of $143.99 and a two-hundred day moving average of $143.21.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating 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 quarter in the prior year, the firm posted $1.03 earnings per share. 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. On average, analysts predict that Tapestry, Inc. will post 6.97 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.0%. Tapestry’s dividend payout ratio (DPR) is presently 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.