Hsbc Holdings PLC Increases Stock Position in Tapestry, Inc. $TPR

Hsbc Holdings PLC grew its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 17.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 454,912 shares of the luxury accessories retailer’s stock after buying an additional 68,429 shares during the period. Hsbc Holdings PLC’s holdings in Tapestry were worth $64,084,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TPR. Schroder Investment Management Group lifted its position in Tapestry by 92.8% during the 4th quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock valued at $1,194,678,000 after acquiring an additional 4,500,850 shares during the period. Norges Bank purchased a new stake in Tapestry in the fourth quarter worth about $345,349,000. Wellington Management Group LLP increased its stake in shares of Tapestry by 632.3% during the fourth quarter. Wellington Management Group LLP now owns 2,366,502 shares of the luxury accessories retailer’s stock valued at $302,368,000 after purchasing an additional 2,043,353 shares in the last quarter. State Street Corp increased its stake in shares of Tapestry by 19.3% during the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock valued at $1,044,995,000 after purchasing an additional 1,494,193 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Tapestry by 160.5% during the third quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer’s stock valued at $213,592,000 after purchasing an additional 1,162,442 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Tapestry Price Performance

Shares of TPR opened at $141.43 on Monday. Tapestry, Inc. has a twelve month low of $92.62 and a twelve month high of $161.97. The company has a market capitalization of $28.57 billion, a P/E ratio of 45.33, a price-to-earnings-growth ratio of 1.30 and a beta of 1.43. The firm has a 50 day moving average of $141.43 and a 200 day moving average of $142.12. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48.

Tapestry (NYSE:TPR) last released its quarterly earnings data 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 business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, equities research analysts anticipate that Tapestry, Inc. will post 6.96 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were issued a dividend of $0.40 per share. 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 presently 51.28%.

Insider Buying and Selling at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction 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 directly owned 652,434 shares of the company’s stock, valued at $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 Tapestry stock in a transaction dated 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. The trade was a 13.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TPR. JPMorgan Chase & Co. boosted 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. UBS Group lifted their price objective on Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Robert W. Baird boosted their target price on Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Sanford C. Bernstein reissued an “outperform” rating and issued a $180.00 target price on shares of Tapestry in a research note on Tuesday, June 2nd. Finally, Weiss Ratings downgraded Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $170.06.

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.