Comerica Bank Cuts Position in Tapestry, Inc. $TPR

Comerica Bank cut its stake in Tapestry, Inc. (NYSE:TPR) by 91.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,742 shares of the luxury accessories retailer’s stock after selling 525,617 shares during the quarter. Comerica Bank’s holdings in Tapestry were worth $6,483,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. D.A. Davidson & CO. increased its holdings in shares of Tapestry by 52.3% in the 4th quarter. D.A. Davidson & CO. now owns 3,551 shares of the luxury accessories retailer’s stock valued at $454,000 after acquiring an additional 1,219 shares during the period. Kestra Private Wealth Services LLC grew its stake in Tapestry by 8.5% during the 4th quarter. Kestra Private Wealth Services LLC now owns 3,231 shares of the luxury accessories retailer’s stock worth $413,000 after buying an additional 252 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in Tapestry by 24.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 712,934 shares of the luxury accessories retailer’s stock worth $91,107,000 after buying an additional 137,919 shares during the last quarter. Inscription Capital LLC grew its stake in Tapestry by 14.3% during the 4th quarter. Inscription Capital LLC now owns 7,575 shares of the luxury accessories retailer’s stock worth $968,000 after buying an additional 950 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in Tapestry by 9.5% during the 4th quarter. Verdence Capital Advisors LLC now owns 24,418 shares of the luxury accessories retailer’s stock worth $3,120,000 after buying an additional 2,118 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Stock Up 2.4%

Tapestry stock opened at $144.98 on Friday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. The business’s 50-day simple moving average is $147.31 and its two-hundred day simple moving average is $131.52. The company has a market cap of $29.35 billion, a PE ratio of 59.91, a PEG ratio of 1.70 and a beta of 1.59. Tapestry, Inc. has a fifty-two week low of $70.40 and a fifty-two week high of $161.97.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.49. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.29 billion. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.00 EPS. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Equities analysts anticipate that Tapestry, Inc. will post 6.45 EPS for the current year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, March 6th were paid 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, March 6th. Tapestry’s payout ratio is presently 66.12%.

Analyst Ratings Changes

Several brokerages recently weighed in on TPR. UBS Group boosted their target price on Tapestry from $141.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. TD Cowen restated a “buy” rating on shares of Tapestry in a research note on Tuesday, February 10th. Jefferies Financial Group downgraded Tapestry from a “buy” rating to a “hold” rating and dropped their target price for the stock from $142.00 to $138.00 in a research note on Wednesday, January 14th. The Goldman Sachs Group set a $166.00 target price on Tapestry in a research note on Friday, February 6th. Finally, Zacks Research upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five 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 target price of $153.89.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 2,147 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $153.47, for a total transaction of $329,500.09. Following the sale, the vice president owned 18,475 shares in the company, valued at approximately $2,835,358.25. The trade was a 10.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Greco sold 14,245 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total value of $2,199,997.80. Following the sale, the director owned 21,302 shares in the company, valued at approximately $3,289,880.88. The trade was a 40.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 164,956 shares of company stock worth $25,297,262. 1.32% of the stock is owned by corporate insiders.

About Tapestry

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.