Comerica Bank Sells 171,600 Shares of Tapestry, Inc. $TPR

Comerica Bank reduced its position in shares of Tapestry, Inc. (NYSE:TPR) by 22.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 576,359 shares of the luxury accessories retailer’s stock after selling 171,600 shares during the quarter. Comerica Bank’s holdings in Tapestry were worth $65,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cloud Capital Management LLC bought a new position in Tapestry in the 3rd quarter valued at approximately $26,000. Vestor Capital LLC bought a new stake in Tapestry during the 2nd quarter worth approximately $27,000. Johnson Financial Group Inc. acquired a new position in Tapestry in the 2nd quarter valued at approximately $39,000. Wealth Watch Advisors INC acquired a new position in Tapestry in the 3rd quarter valued at approximately $54,000. Finally, SJS Investment Consulting Inc. raised its stake in shares of Tapestry by 2,171.4% during the third quarter. SJS Investment Consulting Inc. now owns 477 shares of the luxury accessories retailer’s stock valued at $54,000 after acquiring an additional 456 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Trading Down 0.4%

NYSE:TPR opened at $142.12 on Friday. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $161.97. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. The firm’s fifty day moving average is $141.96 and its 200-day moving average is $122.94. The firm has a market cap of $28.77 billion, a P/E ratio of 58.73, a P/E/G ratio of 1.71 and a beta of 1.55.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the business earned $2.00 earnings per share. Tapestry’s revenue for the quarter was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s payout ratio is currently 66.12%.

Insider Activity at Tapestry

In related news, insider Denise Kulikowsky sold 9,166 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $155.62, for a total transaction of $1,426,412.92. Following the completion of the sale, the insider owned 26,942 shares of the company’s stock, valued at $4,192,714.04. This trade represents a 25.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of Tapestry 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 completion of the sale, the chief executive officer owned 671,193 shares of the company’s stock, valued at approximately $103,947,659.91. The trade was a 6.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 164,956 shares of company stock worth $25,297,262 over the last quarter. 1.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TPR shares. Wall Street Zen lowered shares of Tapestry from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Argus set a $165.00 price objective on Tapestry in a report on Thursday. Robert W. Baird set a $160.00 target price on Tapestry in a research report on Friday, February 6th. TD Cowen reaffirmed a “buy” rating on shares of Tapestry in a report on Tuesday, February 10th. Finally, Barclays set a $179.00 price target on Tapestry and gave the company an “overweight” rating in a research report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $151.06.

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.