Insider Selling: Tapestry (NYSE:TPR) CEO Sells $3,342,012.85 in Stock

Tapestry, Inc. (NYSE:TPR) CEO Joanne Crevoiserat sold 31,735 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $105.31, for a total transaction of $3,342,012.85. Following the sale, the chief executive officer owned 667,233 shares of the company’s stock, valued at $70,266,307.23. This trade represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Tapestry Trading Up 2.9%

Shares of Tapestry stock opened at $110.78 on Thursday. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $118.56. The company’s fifty day simple moving average is $110.51 and its 200-day simple moving average is $100.35. The company has a market cap 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 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 issued its quarterly 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. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, sell-side analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

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

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders 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 dividend payout ratio (DPR) is presently 142.86%.

Analysts Set New Price Targets

A number of equities analysts have commented on TPR shares. Wall Street Zen raised Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, October 8th. Wells Fargo & Company lowered their price objective on shares of Tapestry from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Robert W. Baird set a $130.00 target price on shares of Tapestry in a research note on Wednesday, October 29th. Finally, Barclays increased their price target on shares of Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Eighteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and a consensus target price of $119.26.

Institutional Investors Weigh In On Tapestry

Several hedge funds have recently bought and sold shares of the company. 1858 Wealth Management LLC grew its holdings in shares of 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 buying an additional 95 shares during the period. Convergence Financial LLC lifted its holdings in Tapestry by 3.0% during the second quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock worth $297,000 after acquiring an additional 98 shares in the last quarter. Essex Financial Services Inc. grew its stake in Tapestry by 3.5% in the third quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer’s stock valued at $376,000 after acquiring an additional 113 shares during the period. Earned Wealth Advisors LLC increased its holdings in shares of Tapestry by 1.6% in the second quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock worth $641,000 after acquiring an additional 116 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Tapestry by 19.7% during the third quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock worth $84,000 after purchasing an additional 122 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.