Skandinaviska Enskilda Banken AB publ Makes New Investment in Tapestry, Inc. $TPR

Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 56,000 shares of the luxury accessories retailer’s stock, valued at approximately $6,340,000.

A number of other hedge funds have also recently modified their holdings of TPR. Cloud Capital Management LLC acquired a new position in Tapestry in the 3rd quarter valued at about $26,000. Vestor Capital LLC purchased a new position in Tapestry in the second quarter worth approximately $27,000. CVA Family Office LLC increased its stake in Tapestry by 224.8% during the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after acquiring an additional 263 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Tapestry in the second quarter valued at $39,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Tapestry in the second quarter valued at $45,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TPR. BTIG Research upped their target price on shares of Tapestry from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Sanford C. Bernstein restated an “outperform” rating and set a $170.00 price target on shares of Tapestry in a research note on Friday, February 6th. Guggenheim began coverage on Tapestry in a research note on Tuesday, December 9th. They issued a “neutral” rating for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, January 21st. Finally, Robert W. Baird set a $160.00 target price on Tapestry in a research report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Insider Activity at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 48,795 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total value of $7,556,881.65. Following the completion of the sale, the chief executive officer directly owned 671,193 shares of the company’s stock, valued at $103,947,659.91. The trade was a 6.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Greco sold 14,245 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total value of $2,199,997.80. Following the transaction, the director directly owned 21,302 shares in the company, valued at approximately $3,289,880.88. The trade was a 40.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 175,883 shares of company stock valued at $26,471,214 in the last quarter. Company insiders own 1.32% of the company’s stock.

Tapestry Trading Down 1.8%

Shares of NYSE:TPR opened at $152.25 on Friday. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $158.28. The company’s 50 day moving average is $134.25 and its two-hundred day moving average is $117.75. The company has a market cap of $30.82 billion, a PE ratio of 62.91, a P/E/G ratio of 1.90 and a beta of 1.63. The company has a current ratio of 1.63, a quick ratio of 1.10 and a debt-to-equity ratio of 4.32.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, beating the consensus estimate of $2.20 by $0.49. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.29 billion. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.Tapestry’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.00 earnings per share. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Equities analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, March 6th. Tapestry’s dividend payout ratio is currently 66.12%.

Tapestry announced that its board has authorized a stock buyback plan on Thursday, November 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the luxury accessories retailer to purchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.