Insider Selling: Tapestry (NYSE:TPR) CEO Sells $2,982,070.00 in Stock

Tapestry, Inc. (NYSE:TPR) CEO Todd Kahn sold 29,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $102.83, for a total transaction of $2,982,070.00. Following the completion of the sale, the chief executive officer directly owned 86,736 shares of the company’s stock, valued at approximately $8,919,062.88. This trade represents a 25.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Tapestry Stock Performance

Shares of TPR stock traded up $1.18 during mid-day trading on Wednesday, hitting $104.46. 4,832,442 shares of the stock were exchanged, compared to its average volume of 4,479,335. The stock’s fifty day simple moving average is $110.76 and its two-hundred day simple moving average is $99.23. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. Tapestry, Inc. has a 12-month low of $54.98 and a 12-month high of $118.56. The stock has a market capitalization of $21.38 billion, a price-to-earnings ratio of 165.81, a P/E/G ratio of 2.72 and a beta of 1.71.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry declared that its Board of Directors has approved a share repurchase plan on Thursday, November 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the luxury accessories retailer to purchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, December 5th. Tapestry’s payout ratio is presently 142.86%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TPR. Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 10th. Barclays increased their target price on shares of Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. JPMorgan Chase & Co. boosted their price target on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday. Robert W. Baird set a $130.00 price objective on Tapestry in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company dropped their target price on Tapestry from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $119.26.

Hedge Funds Weigh In On Tapestry

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC purchased a new stake in shares of Tapestry in the first quarter valued at approximately $221,000. HighPoint Advisor Group LLC lifted its holdings in Tapestry by 560.8% in the first quarter. HighPoint Advisor Group LLC now owns 37,607 shares of the luxury accessories retailer’s stock valued at $2,634,000 after acquiring an additional 31,916 shares during the period. Guidance Capital Inc. boosted its position in shares of Tapestry by 9.4% during the 1st quarter. Guidance Capital Inc. now owns 13,222 shares of the luxury accessories retailer’s stock worth $962,000 after purchasing an additional 1,135 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Tapestry during the 1st quarter worth $4,085,000. Finally, SYM FINANCIAL Corp increased its holdings in shares of Tapestry by 5.7% in the 1st quarter. SYM FINANCIAL Corp now owns 8,158 shares of the luxury accessories retailer’s stock valued at $574,000 after purchasing an additional 441 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.