Todd Kahn Sells 10,344 Shares of Tapestry (NYSE:TPR) Stock

Tapestry, Inc. (NYSE:TPR) CEO Todd Kahn sold 10,344 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $107.00, for a total value of $1,106,808.00. Following the transaction, the chief executive officer directly owned 131,815 shares in the company, valued at $14,104,205. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Todd Kahn also recently made the following trade(s):

• On Tuesday, November 18th, Todd Kahn sold 29,000 shares of Tapestry stock. The stock was sold at an average price of $102.83, for a total value of $2,982,070.00.

Tapestry Price Performance

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

Tapestry (NYSE:TPR) last released its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. The company had revenue of $1.70 billion during 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%. Tapestry’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

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

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders 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 dividend yield of 1.4%. Tapestry’s payout ratio is 142.86%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TPR. Kestra Private Wealth Services LLC acquired a new stake in shares of Tapestry during the 1st quarter worth approximately $221,000. HB Wealth Management LLC lifted its stake in shares of Tapestry by 36.3% in the 1st quarter. HB Wealth Management LLC now owns 9,699 shares of the luxury accessories retailer’s stock valued at $683,000 after purchasing an additional 2,584 shares during the period. Empirical Finance LLC boosted its holdings in Tapestry by 2.2% during the first quarter. Empirical Finance LLC now owns 20,337 shares of the luxury accessories retailer’s stock worth $1,432,000 after buying an additional 444 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Tapestry by 2.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,917 shares of the luxury accessories retailer’s stock worth $4,289,000 after buying an additional 1,309 shares in the last quarter. Finally, LPL Financial LLC grew its position in Tapestry by 10.1% during the first quarter. LPL Financial LLC now owns 134,611 shares of the luxury accessories retailer’s stock valued at $9,478,000 after buying an additional 12,353 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on TPR shares. Morgan Stanley lifted their price target on Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Telsey Advisory Group restated an “outperform” rating and issued a $125.00 price objective on shares of Tapestry in a research note on Friday, November 7th. Robert W. Baird set a $130.00 target price on Tapestry in a research report on Wednesday, October 29th. Jefferies Financial Group increased their price target on shares of Tapestry from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, UBS Group decreased their price objective on shares of Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus target price 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.