iA Global Asset Management Inc. Has $3.91 Million Stake in Tapestry, Inc. $TPR

iA Global Asset Management Inc. lowered its stake in Tapestry, Inc. (NYSE:TPR) by 27.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,698 shares of the luxury accessories retailer’s stock after selling 10,384 shares during the quarter. iA Global Asset Management Inc.’s holdings in Tapestry were worth $3,908,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TPR. State Street Corp increased its position in Tapestry by 3.8% during the 4th quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock worth $1,223,795,000 after purchasing an additional 348,334 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Tapestry by 92.8% during the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock worth $1,194,678,000 after buying an additional 4,500,850 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Tapestry by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock worth $753,482,000 after buying an additional 203,764 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Tapestry by 21.4% during the third quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock worth $487,708,000 after buying an additional 760,646 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of Tapestry by 8.9% in the 4th quarter. Morgan Stanley now owns 3,327,212 shares of the luxury accessories retailer’s stock valued at $425,118,000 after acquiring an additional 270,973 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Todd Kahn sold 19,557 shares of the company’s 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 $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total transaction 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 position. 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 insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Robert W. Baird raised their price objective on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Citigroup increased their target price on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Argus set a $165.00 price target on Tapestry in a research note on Thursday, March 12th. Evercore set a $175.00 price target on Tapestry in a report on Friday, May 8th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Tapestry in a research note on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $167.65.

Tapestry Stock Performance

NYSE TPR opened at $144.15 on Thursday. The company has a market capitalization of $29.12 billion, a price-to-earnings ratio of 46.20, a PEG ratio of 1.48 and a beta of 1.42. Tapestry, Inc. has a twelve month low of $84.39 and a twelve month high of $161.97. The stock has a fifty day simple moving average of $141.86 and a 200 day simple moving average of $140.88. 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 (NYSE:TPR) last announced its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $1.03 EPS. The business’s quarterly 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. Sell-side analysts expect that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were paid 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 of this dividend was Friday, June 5th. Tapestry’s payout ratio is currently 51.28%.

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.