Sumitomo Mitsui Trust Group Inc. Lowers Stock Position in Tapestry, Inc. $TPR

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Tapestry, Inc. (NYSE:TPR) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 419,628 shares of the luxury accessories retailer’s stock after selling 14,189 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Tapestry were worth $53,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Tapestry by 19.3% in the 3rd 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. Schroder Investment Management Group boosted its holdings 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 valued at $549,046,000 after purchasing an additional 846,553 shares in the last quarter. AQR Capital Management LLC boosted its holdings 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 valued at $487,708,000 after purchasing an additional 760,646 shares in the last quarter. Northern Trust Corp boosted its holdings in Tapestry by 7.6% in the 3rd quarter. Northern Trust Corp now owns 2,870,821 shares of the luxury accessories retailer’s stock valued at $325,034,000 after purchasing an additional 203,520 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Tapestry by 250.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock valued at $277,295,000 after purchasing an additional 1,750,566 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In related news, 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 value of $7,556,881.65. Following the sale, the chief executive officer owned 671,193 shares of the company’s stock, valued at approximately $103,947,659.91. This represents a 6.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Greco sold 14,245 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director directly owned 21,302 shares in the company, valued at approximately $3,289,880.88. The trade was a 40.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 164,956 shares of company stock worth $25,297,262 in the last quarter. Insiders own 1.32% of the company’s stock.

Tapestry Price Performance

Shares of NYSE:TPR opened at $151.64 on Thursday. The business’s 50 day simple moving average is $148.35 and its 200-day simple moving average is $129.02. The firm has a market capitalization of $30.70 billion, a price-to-earnings ratio of 62.66, a price-to-earnings-growth ratio of 1.81 and a beta of 1.59. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.63 and a quick ratio of 1.10. Tapestry, Inc. has a 12 month low of $61.60 and a 12 month high of $161.97.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, topping the consensus estimate of $2.20 by $0.49. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.00 EPS. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Friday, March 6th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. Tapestry’s dividend payout ratio is presently 66.12%.

Wall Street Analyst Weigh In

TPR has been the topic of a number of analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Tapestry in a report on Tuesday, February 10th. The Goldman Sachs Group set a $166.00 price objective on Tapestry in a report on Friday, February 6th. Barclays set a $179.00 price target on Tapestry and gave the stock an “overweight” rating in a research note on Friday, February 6th. Evercore boosted their price target on Tapestry from $129.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Finally, UBS Group reissued a “neutral” rating and set a $141.00 price target on shares of Tapestry in a research note on Monday, February 9th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.06.

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.