Insider Selling: Tapestry (NYSE:TPR) Insider Sells 5,810 Shares of Stock

Tapestry, Inc. (NYSE:TPR) insider Denise Kulikowsky sold 5,810 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total value of $670,357.80. Following the sale, the insider owned 21,136 shares in the company, valued at approximately $2,438,671.68. The trade was a 21.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Tapestry Price Performance

TPR traded up $2.32 during trading on Thursday, reaching $116.03. 3,177,285 shares of the company were exchanged, compared to its average volume of 2,549,837. Tapestry, Inc. has a 12-month low of $93.00 and a 12-month high of $164.80. The company’s 50-day moving average is $139.02 and its two-hundred day moving average is $142.56. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The company has a market cap of $23.13 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 1.49 and a beta of 1.42.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm earned $1.04 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Research analysts forecast that Tapestry, Inc. will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be paid a dividend of $0.4625 per share. This is an increase from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, September 4th. Tapestry’s dividend payout ratio is presently 25.38%.

Institutional Investors Weigh In On Tapestry

Institutional investors and hedge funds have recently bought and sold shares of the stock. World Investment Advisors grew its stake in Tapestry by 3.6% in the 1st quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer’s stock worth $279,000 after buying an additional 69 shares in the last quarter. Horizon Bancorp Inc. IN raised its position in shares of Tapestry by 4.7% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,575 shares of the luxury accessories retailer’s stock valued at $222,000 after buying an additional 71 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Tapestry by 2.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer’s stock valued at $477,000 after buying an additional 73 shares in the last quarter. Eastern Bank lifted its holdings in shares of Tapestry by 24.4% during the 2nd quarter. Eastern Bank now owns 392 shares of the luxury accessories retailer’s stock worth $57,000 after acquiring an additional 77 shares during the last quarter. Finally, NewEdge Wealth LLC grew its position in Tapestry by 2.7% in the first quarter. NewEdge Wealth LLC now owns 3,186 shares of the luxury accessories retailer’s stock worth $450,000 after acquiring an additional 85 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on TPR shares. Daiwa Securities Group upgraded shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Wells Fargo & Company reduced their price target on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Weiss Ratings raised shares of Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, August 14th. Telsey Advisory Group increased their price objective on Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $185.00 price objective (up from $180.00) on shares of Tapestry in a research note on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $175.12.

Tapestry Company Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. Its portfolio includes Coach, known for handbags, leather goods, footwear, apparel, jewelry, watches, and fragrance; Kate Spade New York, which offers handbags, accessories, apparel, footwear, jewelry, home products, and fragrance; and Stuart Weitzman, a designer of women’s luxury footwear.

The company sells its products through directly operated stores, e-commerce platforms, wholesale partners, and specialty retailers.