Assenagon Asset Management S.A. Raises Holdings in Tapestry, Inc. $TPR

Assenagon Asset Management S.A. raised its position in Tapestry, Inc. (NYSE:TPR) by 12.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 351,236 shares of the luxury accessories retailer’s stock after purchasing an additional 39,712 shares during the period. Assenagon Asset Management S.A. owned 0.17% of Tapestry worth $44,877,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPR. State Street Corp boosted its position in Tapestry by 19.3% during the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock worth $1,044,995,000 after acquiring an additional 1,494,193 shares during the last quarter. SRS Investment Management LLC raised its holdings in Tapestry by 12.4% in the 2nd quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock valued at $468,275,000 after acquiring an additional 589,000 shares during the last quarter. Schroder Investment Management Group lifted its stake in Tapestry by 21.1% in the 3rd quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock worth $549,046,000 after purchasing an additional 846,553 shares in the last quarter. AQR Capital Management LLC lifted its stake in Tapestry by 21.4% in the 3rd quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock worth $487,708,000 after purchasing an additional 760,646 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Tapestry by 7.6% during the 3rd quarter. Northern Trust Corp now owns 2,870,821 shares of the luxury accessories retailer’s stock worth $325,034,000 after purchasing an additional 203,520 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 2,147 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $153.47, for a total value of $329,500.09. Following the sale, the vice president directly owned 18,475 shares of the company’s stock, valued at approximately $2,835,358.25. The trade was a 10.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the completion of the transaction, the chief executive officer owned 671,193 shares in the company, valued at approximately $103,947,659.91. This represents a 6.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 164,956 shares of company stock worth $25,297,262. Insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

TPR has been the subject of several recent research reports. TD Cowen reaffirmed a “buy” rating on shares of Tapestry in a report on Tuesday, February 10th. BNP Paribas Exane assumed coverage on Tapestry in a report on Friday, February 13th. They issued an “outperform” rating and a $176.00 target price for the company. Argus set a $165.00 target price on Tapestry in a research note on Thursday, March 12th. Telsey Advisory Group lifted their price target on Tapestry to $150.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Finally, Jefferies Financial Group cut shares of Tapestry from a “buy” rating to a “hold” rating and lowered their price target for the company from $142.00 to $138.00 in a research report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $151.06.

Tapestry Price Performance

NYSE:TPR opened at $143.93 on Wednesday. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $161.97. The stock’s fifty day moving average is $143.32 and its two-hundred day moving average is $125.18. The company has a market capitalization of $29.14 billion, a P/E ratio of 59.48, a P/E/G ratio of 1.73 and a beta of 1.55. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.49. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The company’s revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.00 EPS. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Equities analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, March 6th were given a dividend of $0.40 per share. The ex-dividend date was Friday, March 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Tapestry’s dividend payout ratio (DPR) is currently 66.12%.

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.