ING Groep NV Decreases Holdings in Tapestry, Inc. $TPR

ING Groep NV trimmed its position in shares of Tapestry, Inc. (NYSE:TPR) by 89.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,355 shares of the luxury accessories retailer’s stock after selling 65,313 shares during the quarter. ING Groep NV’s holdings in Tapestry were worth $940,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Cookson Peirce & Co. Inc. increased its stake in Tapestry by 3.8% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 12,535 shares of the luxury accessories retailer’s stock worth $1,602,000 after purchasing an additional 463 shares during the period. Havemeyer Place LP bought a new stake in Tapestry in the fourth quarter valued at approximately $2,012,000. Vestcor Inc lifted its position in Tapestry by 72.4% in the fourth quarter. Vestcor Inc now owns 13,774 shares of the luxury accessories retailer’s stock valued at $1,760,000 after purchasing an additional 5,783 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in Tapestry by 234.0% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 60,546 shares of the luxury accessories retailer’s stock valued at $7,736,000 after purchasing an additional 42,417 shares during the last quarter. Finally, Pinebridge Investments LLC bought a new stake in Tapestry in the fourth quarter valued at approximately $8,331,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Price Performance

TPR opened at $140.90 on Thursday. 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 $78.59 and a 52-week high of $161.97. The stock has a market capitalization of $28.47 billion, a PE ratio of 45.16, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42. The stock’s 50 day moving average price is $142.10 and its 200-day moving average price is $137.25.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $1.79 billion. During the same period in the previous year, the firm earned $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, equities research analysts predict that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry’s payout ratio is 51.28%.

Insider Activity at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the business’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 transaction of $2,738,371.14. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 652,434 shares in the company, valued at $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TPR. Citigroup boosted their price objective on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. UBS Group upgraded Tapestry from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $142.00 to $187.00 in a research report on Friday, May 8th. Argus set a $165.00 price objective on Tapestry in a research report on Thursday, March 12th. Robert W. Baird boosted their price objective on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Finally, BNP Paribas Exane began coverage on Tapestry in a research report on Friday, February 13th. They issued an “outperform” rating and a $176.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $161.22.

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.