Mediolanum International Funds Ltd Raises Holdings in Tapestry, Inc. $TPR

Mediolanum International Funds Ltd lifted its position in Tapestry, Inc. (NYSE:TPR) by 279.7% during the 1st quarter, HoldingsChannel reports. The firm owned 52,150 shares of the luxury accessories retailer’s stock after acquiring an additional 38,415 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Tapestry were worth $7,140,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Woodline Partners LP increased its stake in Tapestry by 25.0% in the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after acquiring an additional 3,495 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Tapestry during the 1st quarter valued at approximately $493,000. Sivia Capital Partners LLC bought a new position in shares of Tapestry during the 2nd quarter valued at approximately $602,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Tapestry in the second quarter valued at $6,307,000. Finally, Brown Advisory Inc. grew its holdings in shares of Tapestry by 13.8% in the second quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock valued at $319,000 after purchasing an additional 439 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction dated Wednesday, May 13th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the sale, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.32% of the company’s stock.

Tapestry Stock Down 0.3%

Shares of TPR opened at $141.06 on Tuesday. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The business has a fifty day moving average of $141.58 and a 200 day moving average of $142.21. The company has a market cap of $28.50 billion, a PE ratio of 45.21, a P/E/G ratio of 1.30 and a beta of 1.43. Tapestry, Inc. has a 52-week low of $92.62 and a 52-week high of $161.97.

Tapestry (NYSE:TPR) last posted its quarterly earnings data 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 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 analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The business’s 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. On average, sell-side analysts expect that Tapestry, Inc. will post 6.96 EPS for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, June 5th. Tapestry’s dividend payout ratio is presently 51.28%.

Analysts Set New Price Targets

A number of research firms recently issued reports on TPR. Evercore set a $175.00 price target on shares of Tapestry in a research note on Friday, May 8th. Sanford C. Bernstein restated an “outperform” rating and issued a $180.00 target price on shares of Tapestry in a report on Tuesday, June 2nd. Citigroup upped their target price 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. JPMorgan Chase & Co. lifted their price target on Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $165.00 price target on shares of Tapestry in a research 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.06.

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.