Tapestry (NYSE:TPR) CEO Sells $3,691,152.64 in Stock

Tapestry, Inc. (NYSE:TPR) CEO Joanne Crevoiserat sold 27,776 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the sale, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tapestry Price Performance

Shares of Tapestry stock traded down $2.38 on Thursday, reaching $130.32. 2,248,711 shares of the stock were exchanged, compared to its average volume of 2,242,799. The firm’s 50 day moving average is $144.48 and its 200-day moving average is $132.72. Tapestry, Inc. has a one year low of $76.29 and a one year high of $161.97. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The firm has a market cap of $26.33 billion, a PE ratio of 41.77, a P/E/G ratio of 1.34 and a beta of 1.45.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, analysts anticipate that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 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 1.2%. The ex-dividend date is Friday, June 5th. Tapestry’s dividend payout ratio is currently 51.28%.

Hedge Funds Weigh In On Tapestry

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schroder Investment Management Group increased its position in shares of Tapestry by 92.8% during the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock worth $1,194,678,000 after buying an additional 4,500,850 shares during the period. Norges Bank acquired a new stake in shares of Tapestry during the fourth quarter worth $345,349,000. Wellington Management Group LLP increased its position in shares of Tapestry by 632.3% during the fourth quarter. Wellington Management Group LLP now owns 2,366,502 shares of the luxury accessories retailer’s stock worth $302,368,000 after buying an additional 2,043,353 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Tapestry by 250.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock worth $277,295,000 after buying an additional 1,750,566 shares during the period. Finally, State Street Corp increased its position in shares of Tapestry by 19.3% during the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock worth $1,044,995,000 after buying an additional 1,494,193 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TPR shares. Sanford C. Bernstein reiterated an “outperform” rating and set a $170.00 price objective on shares of Tapestry in a research report on Friday, February 6th. Barclays set a $179.00 price objective on shares of Tapestry and gave the stock an “overweight” rating in a research report on Friday, February 6th. UBS Group upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $142.00 to $187.00 in a research report on Friday, May 8th. Jefferies Financial Group cut shares of Tapestry from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $142.00 to $138.00 in a research report on Wednesday, January 14th. Finally, TD Cowen restated a “buy” rating on shares of Tapestry in a research report on Tuesday, February 10th. 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $160.67.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.