Insider Selling: Tapestry (NYSE:TPR) CEO Sells 31,735 Shares of Stock

Tapestry, Inc. (NYSE:TPR) CEO Joanne Crevoiserat sold 31,735 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $105.31, for a total transaction of $3,342,012.85. Following the sale, the chief executive officer owned 667,233 shares in the company, valued at $70,266,307.23. This represents a 4.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Tapestry Price Performance

TPR traded up $0.31 during trading on Monday, hitting $105.55. 6,182,447 shares of the stock traded hands, compared to its average volume of 4,478,021. The business has a 50 day moving average price of $110.62 and a 200 day moving average price of $99.86. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. Tapestry, Inc. has a twelve month low of $58.39 and a twelve month high of $118.56. The company has a market cap of $21.60 billion, a price-to-earnings ratio of 167.54, a PEG ratio of 2.72 and a beta of 1.71.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry declared that its Board of Directors has approved a stock buyback plan on Thursday, November 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the luxury accessories retailer to buy up to 4.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Friday, December 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, December 5th. Tapestry’s dividend payout ratio is currently 142.86%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. 1858 Wealth Management LLC raised its position in shares of Tapestry by 2.5% during the second quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock worth $337,000 after purchasing an additional 95 shares during the period. Convergence Financial LLC boosted its position in shares of Tapestry by 3.0% during the second quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock valued at $297,000 after buying an additional 98 shares during the last quarter. Essex Financial Services Inc. grew its stake in shares of Tapestry by 3.5% in the 3rd quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer’s stock worth $376,000 after acquiring an additional 113 shares in the last quarter. Earned Wealth Advisors LLC lifted its position in shares of Tapestry by 1.6% during the second quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock valued at $641,000 after purchasing an additional 116 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Tapestry by 19.7% during the third quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock worth $84,000 after purchasing an additional 122 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TPR has been the subject of several research analyst reports. Cowen reiterated a “buy” rating on shares of Tapestry in a report on Thursday, August 7th. Evercore ISI upped their price target on shares of Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. lifted their target price on Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Sanford C. Bernstein increased their price target on Tapestry from $112.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Finally, Barclays raised their price target on shares of Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and an average price target of $119.26.

About Tapestry

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.