Tapestry (NYSE:TPR) Insider Sells $2,565,472.50 in Stock

Tapestry, Inc. (NYSE:TPR) insider David Howard sold 25,029 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $102.50, for a total value of $2,565,472.50. Following the completion of the transaction, the insider directly owned 55,354 shares in the company, valued at approximately $5,673,785. This represents a 31.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Tapestry Stock Performance

NYSE:TPR traded up $1.18 on Wednesday, hitting $104.46. The stock had a trading volume of 4,832,442 shares, compared to its average volume of 4,479,335. Tapestry, Inc. has a 52-week low of $54.98 and a 52-week high of $118.56. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of 165.81, a price-to-earnings-growth ratio of 2.72 and a beta of 1.71. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The business’s 50-day simple moving average is $110.76 and its two-hundred day simple moving average is $99.23.

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

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be given 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 dividend yield of 1.5%. Tapestry’s payout ratio is presently 142.86%.

Tapestry announced that its board has approved a stock repurchase program on Thursday, November 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the luxury accessories retailer to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Tapestry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPR. Harbour Investments Inc. increased its stake in Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after acquiring an additional 197 shares during the last quarter. Flaharty Asset Management LLC bought a new stake in Tapestry in the first quarter worth $25,000. First PREMIER Bank purchased a new stake in Tapestry during the second quarter valued at $25,000. Cloud Capital Management LLC bought a new position in Tapestry during the third quarter valued at $26,000. Finally, Vestor Capital LLC bought a new position in Tapestry during the second quarter valued at $27,000. 90.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Telsey Advisory Group reiterated an “outperform” rating and set a $125.00 target price on shares of Tapestry in a research report on Friday, November 7th. Raymond James Financial lifted their price objective on Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Bank of America downgraded Tapestry from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $95.00 to $115.00 in a research note on Tuesday, July 29th. Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 10th. Finally, The Goldman Sachs Group upped their price target on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Eighteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.