BNP Paribas Financial Markets Acquires 635,772 Shares of Tapestry, Inc. $TPR

BNP Paribas Financial Markets lifted its holdings in Tapestry, Inc. (NYSE:TPR) by 363.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 810,700 shares of the luxury accessories retailer’s stock after buying an additional 635,772 shares during the period. BNP Paribas Financial Markets’ holdings in Tapestry were worth $91,787,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Fisher Asset Management LLC raised its position in Tapestry by 21.7% during the third quarter. Fisher Asset Management LLC now owns 608,266 shares of the luxury accessories retailer’s stock valued at $68,868,000 after purchasing an additional 108,278 shares during the period. DNB Asset Management AS boosted its holdings in shares of Tapestry by 1,331.4% in the 3rd quarter. DNB Asset Management AS now owns 39,478 shares of the luxury accessories retailer’s stock worth $4,470,000 after purchasing an additional 36,720 shares during the period. Great Diamond Partners LLC purchased a new position in shares of Tapestry in the 3rd quarter worth approximately $2,395,000. Three Seasons Wealth LLC bought a new position in shares of Tapestry during the 3rd quarter valued at approximately $1,882,000. Finally, Stevens Capital Partners bought a new position in shares of Tapestry during the 3rd quarter valued at approximately $8,880,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tapestry

In other Tapestry news, Director Thomas Greco sold 14,245 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total transaction of $2,199,997.80. Following the transaction, the director directly owned 21,302 shares in the company, valued at $3,289,880.88. This trade represents a 40.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Denise Kulikowsky sold 9,166 shares of Tapestry stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $155.62, for a total value of $1,426,412.92. Following the sale, the insider directly owned 26,942 shares of the company’s stock, valued at approximately $4,192,714.04. This trade represents a 25.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 164,956 shares of company stock valued at $25,297,262 in the last ninety days. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $142.00 to $138.00 in a research note on Wednesday, January 14th. Evercore increased their target price on shares of Tapestry from $129.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Argus set a $165.00 target price on shares of Tapestry in a research note on Thursday. Finally, Barclays set a $179.00 target price on shares of Tapestry and gave the stock an “overweight” rating in a report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $151.06.

Tapestry Trading Down 1.9%

NYSE TPR opened at $142.70 on Friday. The company’s 50-day moving average price is $141.70 and its 200-day moving average price is $122.64. The company has a current ratio of 1.63, a quick ratio of 1.10 and a debt-to-equity ratio of 4.32. The stock has a market cap of $28.89 billion, a PE ratio of 58.97, a PEG ratio of 1.74 and a beta of 1.55. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $161.97.

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

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be paid 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 of this dividend is Friday, March 6th. Tapestry’s payout ratio is currently 66.12%.

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.