Allspring Global Investments Holdings LLC Has $6.71 Million Stake in Tapestry, Inc. $TPR

Allspring Global Investments Holdings LLC raised its stake in shares of Tapestry, Inc. (NYSE:TPR) by 221.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,470 shares of the luxury accessories retailer’s stock after buying an additional 32,032 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Tapestry were worth $6,708,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. World Investment Advisors boosted its holdings in Tapestry by 3.6% in the first quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer’s stock worth $279,000 after purchasing an additional 69 shares in the last quarter. Horizon Bancorp Inc. IN increased its position in Tapestry by 4.7% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,575 shares of the luxury accessories retailer’s stock worth $222,000 after buying an additional 71 shares during the period. Smartleaf Asset Management LLC raised its stake in Tapestry by 2.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer’s stock valued at $477,000 after purchasing an additional 73 shares during the last quarter. Northwest Wealth Management LLC raised its position in shares of Tapestry by 3.4% during the fourth quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer’s stock valued at $315,000 after buying an additional 82 shares during the last quarter. Finally, Fulton Bank N.A. lifted its position in shares of Tapestry by 2.8% in the 4th quarter. Fulton Bank N.A. now owns 3,166 shares of the luxury accessories retailer’s stock worth $405,000 after acquiring an additional 87 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were 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 directly owned 123,258 shares in the company, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total value of $3,691,152.64. Following the transaction, the chief executive officer owned 652,434 shares of the company’s stock, valued at $86,701,954.26. This represents a 4.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company’s stock.

Tapestry Trading Down 3.4%

NYSE:TPR opened at $138.78 on Friday. Tapestry, Inc. has a twelve month low of $92.62 and a twelve month high of $161.97. The business has a 50 day moving average price of $142.18 and a two-hundred day moving average price of $142.49. The company has a market cap of $28.04 billion, a P/E ratio of 44.48, a price-to-earnings-growth ratio of 1.32 and a beta of 1.43. 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 issued its quarterly 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 net margin of 8.44% and a return on equity of 229.70%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the business earned $1.03 EPS. The company’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. As a group, analysts expect that Tapestry, Inc. will post 6.97 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, June 5th. Tapestry’s dividend payout ratio is 51.28%.

Analyst Ratings Changes

A number of research firms recently weighed in on TPR. Evercore set a $175.00 target price on shares of Tapestry in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. UBS Group increased their price objective on Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Morgan Stanley reiterated an “overweight” rating and set a $164.00 price target on shares of Tapestry in a research report on Monday, July 6th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $180.00 price objective on shares of Tapestry in a report on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $170.06.

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.