Truist Financial Corp Grows Stock Holdings in Tapestry, Inc. $TPR

Truist Financial Corp grew its holdings in Tapestry, Inc. (NYSE:TPR) by 8.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 614,786 shares of the luxury accessories retailer’s stock after purchasing an additional 45,766 shares during the quarter. Truist Financial Corp’s holdings in Tapestry were worth $78,551,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TPR. Fisher Asset Management LLC grew its position in Tapestry by 21.7% in the third quarter. Fisher Asset Management LLC now owns 608,266 shares of the luxury accessories retailer’s stock valued at $68,868,000 after purchasing an additional 108,278 shares in the last quarter. DNB Asset Management AS lifted its position in Tapestry by 1,331.4% during the 3rd quarter. DNB Asset Management AS now owns 39,478 shares of the luxury accessories retailer’s stock worth $4,470,000 after buying an additional 36,720 shares in the last quarter. Stevens Capital Partners acquired a new position in shares of Tapestry during the 3rd quarter worth about $8,880,000. Nordea Investment Management AB bought a new position in shares of Tapestry in the 3rd quarter valued at about $2,042,000. Finally, Ritholtz Wealth Management grew its holdings in shares of Tapestry by 63.3% in the 3rd quarter. Ritholtz Wealth Management now owns 73,486 shares of the luxury accessories retailer’s stock valued at $8,320,000 after acquiring an additional 28,477 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TPR. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a report on Wednesday, January 21st. BTIG Research raised their price target on Tapestry from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Citigroup upped their price objective on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Raymond James Financial reissued an “outperform” rating and issued a $165.00 price objective on shares of Tapestry in a report on Thursday, April 23rd. Finally, Barclays set a $179.00 target price on shares of Tapestry and gave the company an “overweight” rating in a research note on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $153.89.

Insiders Place Their Bets

In related news, Director Thomas Greco sold 14,245 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total transaction of $2,199,997.80. Following the sale, the director owned 21,302 shares of the company’s stock, valued at $3,289,880.88. This represents a 40.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Denise Kulikowsky sold 9,166 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $155.62, for a total value of $1,426,412.92. Following the transaction, the insider owned 26,942 shares in the company, valued at approximately $4,192,714.04. This trade represents a 25.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 164,956 shares of company stock valued at $25,297,262 in the last quarter. Company insiders own 1.32% of the company’s stock.

Tapestry Trading Down 2.0%

TPR stock opened at $139.89 on Tuesday. Tapestry, Inc. has a 52 week low of $71.99 and a 52 week high of $161.97. The company has a market capitalization of $28.32 billion, a PE ratio of 57.81, a price-to-earnings-growth ratio of 1.71 and a beta of 1.46. The company’s 50-day simple moving average is $147.31 and its 200 day simple moving average is $131.75. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the company earned $2.00 EPS. The business’s revenue was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 6.46 earnings per share for the current year.

Tapestry Dividend Announcement

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

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.