Tapestry, Inc. $TPR Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 300.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 66,952 shares of the luxury accessories retailer’s stock after buying an additional 50,217 shares during the period. Fifth Third Bancorp’s holdings in Tapestry were worth $9,448,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Woodline Partners LP boosted its stake in Tapestry by 25.0% in the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after acquiring an additional 3,495 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Tapestry in the 1st quarter worth approximately $493,000. Sivia Capital Partners LLC bought a new stake in shares of Tapestry in the 2nd quarter worth approximately $602,000. Arrowstreet Capital Limited Partnership acquired a new position in Tapestry during the 2nd quarter valued at approximately $6,307,000. Finally, Brown Advisory Inc. boosted its position in Tapestry by 13.8% during the 2nd 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 during the period. Institutional investors own 90.77% of the company’s stock.

Insider Activity at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the sale, the chief executive officer owned 652,434 shares of the company’s stock, valued at $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.32% of the company’s stock.

Tapestry Price Performance

Shares of TPR opened at $140.19 on Thursday. Tapestry, Inc. has a one year low of $92.62 and a one year high of $161.97. The stock’s fifty day moving average is $140.99 and its 200-day moving average is $141.95. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The firm has a market capitalization of $28.32 billion, a price-to-earnings ratio of 44.93, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43.

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, topping the consensus estimate of $1.30 by $0.36. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities analysts anticipate that Tapestry, Inc. will post 6.96 EPS for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders 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 dividend payout ratio is currently 51.28%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TPR. UBS Group increased their target price on Tapestry from $187.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Robert W. Baird boosted their price target on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Citigroup upped their price target on shares of Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Tapestry in a report on Tuesday, June 2nd. Finally, Weiss Ratings downgraded shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.88.

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.