SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Maintain 5.7% Stake in Tapestry Inc.
Beneficial Ownership Disclosure
FMR LLC and Abigail P. Johnson have filed an amended Schedule 13G, disclosing a continued beneficial ownership of 5.7% of Tapestry Inc.'s common stock as of December 31, 2024.
Summary
- FMR LLC and Abigail P. Johnson jointly reported beneficial ownership of 13,257,675.10 shares of Tapestry Inc. common stock.
- This aggregate amount represents 5.7% of Tapestry Inc.'s outstanding common stock.
- FMR LLC holds sole voting power over 11,397,802.68 shares and sole dispositive power over 13,257,675.10 shares.
- Abigail P. Johnson, as a Director, Chairman, and CEO of FMR LLC, is also deemed to beneficially own the same 13,257,675.10 shares with sole dispositive power.
- The filing confirms that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Tapestry Inc.
- The filing was made pursuant to Rule 13d-1(b), indicating that FMR LLC is a parent holding company and Abigail P. Johnson is an individual.
- Several FMR LLC subsidiaries, including FIAM LLC, Fidelity Diversifying Solutions LLC, Fidelity Institutional Asset Management Trust Company, Fidelity Management & Research Company LLC, Fidelity Management Trust Company, and Strategic Advisers LLC, are identified as entities that beneficially own shares.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate a positive or negative sentiment regarding the issuer's performance or outlook. It is a neutral, compliance-driven filing.
Future Outlook
NA
Industry Context
This filing is a routine disclosure of beneficial ownership by a major institutional investor in a publicly traded company within the consumer discretionary sector (Tapestry Inc. is known for luxury fashion brands). It does not provide specific industry analysis or trends.
Related Party Transactions
- One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of TAPESTRY INC. However, no single other person's interest in Tapestry Inc. common stock is more than five percent of the total outstanding common stock.
Stakeholder Impact
- Shareholders: Provides transparency regarding significant institutional ownership, which can influence market perception and investor confidence.
- Regulatory Authorities: Fulfills SEC disclosure requirements for beneficial ownership exceeding 5%.
Key Dates
| Date | Description |
|---|---|
| January 3, 2023 | Effective date of Power of Attorney for FMR LLC and its direct and indirect subsidiaries. |
| January 10, 2023 | Date FMR LLC's Power of Attorney was incorporated by reference in a previous Schedule 13G filing. |
| January 26, 2023 | Effective date of Power of Attorney for Abigail P. Johnson. |
| January 31, 2023 | Date Abigail P. Johnson's Power of Attorney was incorporated by reference in a previous Schedule 13G filing. |
| December 31, 2024 | Date of event which requires filing of this statement (reporting period end date). |
| February 11, 2025 | Date of filing of this Schedule 13G Amendment No. 8. |
Keywords
Tapestry Inc, FMR LLC, Abigail P. Johnson, Schedule 13G, beneficial ownership, common stock, institutional investor, SEC filing
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