Pictet Asset Management Holding SA Acquires 20,351 Shares of Tapestry, Inc. $TPR

Pictet Asset Management Holding SA grew its holdings in Tapestry, Inc. (NYSE:TPR) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 733,285 shares of the luxury accessories retailer’s stock after purchasing an additional 20,351 shares during the quarter. Pictet Asset Management Holding SA owned about 0.36% of Tapestry worth $103,430,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Schroder Investment Management Group raised its holdings in shares of Tapestry by 92.8% in the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock valued at $1,194,678,000 after buying an additional 4,500,850 shares during the last quarter. Norges Bank bought a new stake in Tapestry during the 4th quarter worth about $345,349,000. Wellington Management Group LLP increased its position in Tapestry by 632.3% in the 4th quarter. Wellington Management Group LLP now owns 2,366,502 shares of the luxury accessories retailer’s stock valued at $302,368,000 after acquiring an additional 2,043,353 shares in the last quarter. State Street Corp raised its stake in shares of Tapestry by 19.3% in the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock worth $1,044,995,000 after acquiring an additional 1,494,193 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its position in shares of Tapestry by 160.5% during the third quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer’s stock worth $213,592,000 after purchasing an additional 1,162,442 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction on Tuesday, May 26th. The shares were 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 trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the transaction, the chief executive officer directly owned 652,434 shares in the company, valued at approximately $86,701,954.26. This represents a 4.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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

A number of analysts recently weighed in on TPR shares. Sanford C. Bernstein reissued an “outperform” rating and issued a $180.00 price target on shares of Tapestry in a report on Tuesday, June 2nd. Citigroup upped their price objective on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings cut Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. BTIG Research reaffirmed a “buy” rating and set a $180.00 price target on shares of Tapestry in a research note on Wednesday, June 10th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $165.00 price target on shares of Tapestry in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $167.65.

Tapestry Price Performance

TPR opened at $146.24 on Monday. The company has a fifty day moving average price of $142.32 and a two-hundred day moving average price of $140.33. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. Tapestry, Inc. has a 52 week low of $84.39 and a 52 week high of $161.97. The firm has a market capitalization of $29.55 billion, a PE ratio of 46.87, a P/E/G ratio of 1.48 and a beta of 1.42.

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, 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 company 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 business posted $1.03 EPS. The firm’s quarterly revenue 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, analysts anticipate that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, June 5th. Tapestry’s dividend payout ratio (DPR) is currently 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.