Tapestry (NYSE:TPR) CEO Joanne Crevoiserat Sells 48,795 Shares of Stock

Tapestry, Inc. (NYSE:TPR) CEO Joanne Crevoiserat sold 48,795 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the sale, the chief executive officer directly owned 671,193 shares of the company’s stock, valued at $103,947,659.91. This represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Tapestry Trading Up 1.8%

Shares of TPR traded up $2.72 during trading hours on Friday, hitting $155.02. The stock had a trading volume of 412,734 shares, compared to its average volume of 2,403,649. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $158.28. The firm has a market cap of $31.38 billion, a P/E ratio of 64.29, a P/E/G ratio of 1.90 and a beta of 1.63. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. The company’s fifty day simple moving average is $134.25 and its 200 day simple moving average is $117.75.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, topping the consensus estimate of $2.20 by $0.49. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.29 billion. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The firm’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 earnings per share. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry announced that its Board of Directors has initiated a stock repurchase plan 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 plans are generally an indication that the company’s management believes its shares are undervalued.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. Tapestry’s dividend payout ratio is presently 66.12%.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. The Goldman Sachs Group set a $166.00 price objective on shares of Tapestry in a research report on Friday, February 6th. Evercore boosted their target price on shares of Tapestry from $129.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Guggenheim started coverage on shares of Tapestry in a report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Institutional Trading of Tapestry

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Woodline Partners LP increased its holdings in shares of Tapestry by 25.0% in the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after acquiring an additional 3,495 shares during the last quarter. Acadian Asset Management LLC bought a new position in Tapestry during the first quarter worth $493,000. Sivia Capital Partners LLC acquired a new position in Tapestry in the second quarter worth $602,000. Sequoia Financial Advisors LLC bought a new stake in Tapestry during the second quarter valued at $227,000. Finally, Chicago Partners Investment Group LLC increased its stake in Tapestry by 34.8% during the second quarter. Chicago Partners Investment Group LLC now owns 6,055 shares of the luxury accessories retailer’s stock valued at $532,000 after purchasing an additional 1,562 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Company Profile

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.