Tapestry (NYSE:TPR) CFO Sells $1,970,550.90 in Stock

Tapestry, Inc. (NYSE:TPR) CFO Scott Roe sold 18,794 shares of Tapestry stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $104.85, for a total transaction of $1,970,550.90. Following the completion of the transaction, the chief financial officer owned 148,149 shares of the company’s stock, valued at $15,533,422.65. The trade was a 11.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Tapestry Stock Performance

Shares of TPR stock opened at $110.78 on Thursday. The firm’s 50 day moving average is $110.51 and its 200 day moving average is $100.35. The stock has a market capitalization of $22.67 billion, a P/E ratio of 175.84, a PEG ratio of 2.72 and a beta of 1.71. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $118.56. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77.

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

Tapestry announced that its Board of Directors has initiated a share repurchase program on Thursday, November 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the luxury accessories retailer to buy up to 4.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is 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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. Tapestry’s dividend payout ratio is 142.86%.

Institutional Trading of Tapestry

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jump Financial LLC grew its holdings in Tapestry by 1,025.9% in the first quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock worth $5,612,000 after purchasing an additional 72,623 shares during the period. Nuveen LLC bought a new stake in shares of Tapestry in the 1st quarter worth approximately $59,133,000. Czech National Bank grew its stake in shares of Tapestry by 6.8% in the 2nd quarter. Czech National Bank now owns 50,781 shares of the luxury accessories retailer’s stock worth $4,459,000 after buying an additional 3,233 shares during the last quarter. Hsbc Holdings PLC increased its position in Tapestry by 50.6% during the 1st quarter. Hsbc Holdings PLC now owns 351,793 shares of the luxury accessories retailer’s stock valued at $24,596,000 after buying an additional 118,200 shares in the last quarter. Finally, Range Financial Group LLC increased its position in Tapestry by 20.5% during the 2nd quarter. Range Financial Group LLC now owns 38,447 shares of the luxury accessories retailer’s stock valued at $3,376,000 after buying an additional 6,535 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TPR shares. UBS Group decreased their price target on Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. The Goldman Sachs Group boosted their price objective on shares of Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Sanford C. Bernstein increased their target price on shares of Tapestry from $112.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. BTIG Research initiated coverage on shares of Tapestry in a report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 price target for the company. Finally, Morgan Stanley upped their price target on shares of Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Eighteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.26.

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.