BlackRock Amends Tapestry Stake, Maintains Significant Ownership
Ticker: TPR · Form: SC 13G/A · Filed: 2024-01-26T00:00:00.000Z
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
Related Tickers: TPR
TL;DR
**BlackRock still owns a big chunk of Tapestry, showing continued institutional backing.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 26, 2024, disclosing its ownership in Tapestry, Inc. (NYSE: TPR) as of December 31, 2023. This filing, Amendment No. 6, indicates that BlackRock continues to be a significant institutional investor in Tapestry, a company known for its luxury brands like Coach. For investors, this means a major institutional player maintains its stake, which can signal confidence in Tapestry's long-term prospects and stability.
Why It Matters
This filing confirms BlackRock's continued substantial investment in Tapestry, signaling institutional confidence in the company's future performance and brand portfolio.
Risk Assessment
Risk Level: low — This filing is a routine update from a major institutional investor and does not indicate any immediate significant risk or change in company fundamentals.
Analyst Insight
Investors should note BlackRock's continued presence as a major shareholder, which can be a positive signal, but should also conduct their own due diligence on Tapestry's financial performance and market outlook.
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Tapestry, Inc. (company) — the subject company in which BlackRock holds shares
- December 31, 2023 (date) — the date of the event requiring this filing
- January 26, 2024 (date) — the filing date of the SC 13G/A
- Amendment No. 6 (number) — the specific amendment number for this filing
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as indicated by 'FORM TYPE: SC 13G/A' and 'Amendment No: 6' in the filing.
Who is the reporting person in this filing?
The reporting person is BlackRock Inc., as stated under '(1)Names of reporting persons. BlackRock, Inc.' in the filing.
What is the subject company of this filing?
The subject company is Tapestry, Inc., identified as 'TAPESTRY, INC. (Name of Issuer)' in the filing.
What was the date of the event that triggered this filing?
The date of the event which required this filing was December 31, 2023, as specified under '(Date of Event Which Requires Filing of this Statement) December 31, 2023'.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), indicated by '[X] Rule 13d-1(b)' in the filing.
From the Filing
EDGAR Filing Documents for 0001086364-24-004899 This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser. SEC.gov EDGAR Latest Filings Filings search tools Filing Detail SEC Home Company Search Current Page Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] SEC Accession No. 0001086364-24-004899 Filing Date 2024-01-26 Accepted 2024-01-26 17:26:50 Documents 1 Document Format Files Seq Description Document Type Size 1 us8760301072_012624.txt SC 13G/A 11907 Complete submission text file 0001086364-24-004899.txt 13755 Mailing Address 10 HUDSON YARDS NEW YORK NY 10001 Business Address 10 HUDSON YARDS NEW YORK NY 10001 2129468400 TAPESTRY, INC. (Subject) CIK : 0001116132 (see all company filings) EIN. : 522242751 | State of Incorp.: MD | Fiscal Year End: 0627 Type: SC 13G/A | Act: 34 | File No.: 005-60539 | Film No.: 24569214 SIC : 3100 Leather & Leather Products (CF Office: 04 Manufacturing) Mailing Address 50 HUDSON YARDS NEW YORK NY 10001 Business Address 50 HUDSON YARDS NEW YORK NY 10001 212-810-5300 BlackRock Inc. (Filed by) CIK : 0001364742 (see all company filings) EIN. : 320174431 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A SIC : 6211 Security Brokers, Dealers & Flotation Companies (CF Office: 02 Finance)