FMR LLC & Abigail Johnson Trim Tapestry Stake to 5.79%
Ticker: TPR · Form: SC 13G/A · Filed: 2024-02-09T00:00:00.000Z
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**FMR LLC and Abigail Johnson now own 5.79% of Tapestry, a slight dip.**
AI Summary
FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have filed an amended SC 13G/A on February 9, 2024, disclosing their beneficial ownership of 13,272,133 shares of Tapestry Inc. common stock, representing 5.790% of the company. This filing indicates a slight decrease in their reported ownership percentage from previous filings, which could signal a minor reduction in their conviction or a rebalancing of their portfolio. For investors, this matters because large institutional ownership changes can sometimes influence stock price or reflect a significant investor's view on the company's future.
Why It Matters
This filing shows a prominent institutional investor, FMR LLC, and its leader, Abigail P. Johnson, still hold a significant stake in Tapestry Inc., but their percentage ownership has slightly decreased, which could be interpreted as a minor shift in their investment strategy.
Risk Assessment
Risk Level: low — The filing indicates a minor change in institutional ownership, which typically carries low direct risk for individual investors.
Analyst Insight
Investors should note that while FMR LLC remains a significant holder, the slight reduction in their reported percentage ownership might warrant a deeper look into Tapestry's recent performance or FMR's broader investment strategy, but it's not a strong buy or sell signal on its own.
Key Numbers
- 13,272,133 — Shares Beneficially Owned (Represents the total number of Tapestry Inc. common shares held by FMR LLC and Abigail P. Johnson.)
- 5.790% — Percent of Class (Indicates the proportion of Tapestry Inc.'s common stock owned by FMR LLC and Abigail P. Johnson, showing their significant but slightly reduced stake.)
- February 9, 2024 — Filing Date (The date this amended SC 13G/A was filed, providing the most recent ownership data.)
Key Players & Entities
- FMR LLC (company) — the reporting person and parent holding company
- Abigail P. Johnson (person) — principal owner of FMR LLC and reporting person
- TAPESTRY, INC. (company) — the subject company whose stock is being reported
- 13,272,133 (dollar_amount) — total shares beneficially owned by FMR LLC and Abigail P. Johnson
- 5.790% (dollar_amount) — percentage of Tapestry Inc. common stock beneficially owned
Forward-Looking Statements
- FMR LLC will maintain a significant, but potentially fluctuating, stake in Tapestry Inc. as part of its diversified portfolio management. (FMR LLC) — medium confidence, target: Next 12-18 months
FAQ
Who are the primary reporting persons in this SC 13G/A filing for Tapestry Inc.?
The primary reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing for both entities.
What is the total number of Tapestry Inc. common shares beneficially owned by FMR LLC and Abigail P. Johnson according to this filing?
According to Item 4(a) and Item 7 on the cover page for both reporting persons, FMR LLC and Abigail P. Johnson beneficially own 13,272,133 shares of Tapestry Inc. common stock.
What percentage of Tapestry Inc.'s common stock do FMR LLC and Abigail P. Johnson collectively own?
FMR LLC and Abigail P. Johnson collectively own 5.790% of Tapestry Inc.'s common stock, as indicated in Item 4(b) and Item 11 on the cover page for both reporting persons.
Under which SEC rule is this Schedule 13G/A filed?
This Schedule 13G/A is filed pursuant to Rule 13d-1(b), as indicated by the checked box on the first page and in Item 3 of the filing.
What is the CUSIP number for Tapestry Inc. common stock mentioned in this filing?
The CUSIP number for Tapestry Inc. common stock is 876030107, as stated on the cover page and in Item 2(e) of the filing.
From the Filing
EDGAR Filing Documents for 0000315066-24-001502 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. 0000315066-24-001502 Filing Date 2024-02-09 Accepted 2024-02-09 09:49:32 Documents 1 Document Format Files Seq Description Document Type Size 1 filing.txt SC 13G/A 6453 Complete submission text file 0000315066-24-001502.txt 8150 Mailing Address 245 SUMMER STREET BOSTON MA 02210 Business Address 245 SUMMER STREET BOSTON MA 02210 6175706339 FMR LLC (Filed by) CIK : 0000315066 (see all company filings) EIN. : 043532603 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A SIC : 0000 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.: 24612071 SIC : 3100 Leather & Leather Products (CF Office: 04 Manufacturing)