Insider Selling: Tapestry (NYSE:TPR) CEO Sells 10,344 Shares of 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 stock was sold at an average price of $107.00, for a total value of $1,106,808.00. Following the completion of the sale, the chief executive officer owned 131,815 shares in the company, valued at $14,104,205. The trade was a 7.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

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

Tapestry Stock Performance

Tapestry stock traded up $2.01 during mid-day trading on Tuesday, hitting $107.70. The company had a trading volume of 3,268,947 shares, compared to its average volume of 4,472,719. The company has a market capitalization of $22.04 billion, a price-to-earnings ratio of 170.95, a P/E/G 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’s fifty day moving average is $110.53 and its 200-day moving average is $100.06. 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 posted its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the business posted $0.84 EPS. The business’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. Equities research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry declared that its Board of Directors has initiated a share repurchase program on Thursday, November 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the luxury accessories retailer to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, December 5th. Tapestry’s dividend payout ratio is presently 142.86%.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of recent analyst reports. Raymond James Financial boosted 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. The Goldman Sachs Group boosted their price target on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Evercore ISI upped their price objective on shares of Tapestry from $125.00 to $129.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Morgan Stanley increased their price objective on shares of Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Cowen reissued a “buy” rating on shares of Tapestry in a research note on Thursday, August 7th. Eighteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.26.

Institutional Investors Weigh In On Tapestry

A number of large investors have recently modified their holdings of the business. 1858 Wealth Management LLC raised its position in Tapestry by 2.5% in the 2nd quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock valued at $337,000 after purchasing an additional 95 shares in the last quarter. Convergence Financial LLC lifted its position in shares of Tapestry by 3.0% during the 2nd quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock worth $297,000 after buying an additional 98 shares during the last quarter. Essex Financial Services Inc. lifted its position in shares of Tapestry by 3.5% during the 3rd quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer’s stock worth $376,000 after buying an additional 113 shares during the last quarter. Earned Wealth Advisors LLC boosted its holdings in shares of Tapestry by 1.6% in the 2nd quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock valued at $641,000 after buying an additional 116 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Tapestry by 19.7% in the 3rd quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock valued at $84,000 after buying an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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.