Insider Selling: Tapestry (NYSE:TPR) Insider Sells 583 Shares of Stock

Tapestry, Inc. (NYSE:TPR) insider Denise Kulikowsky sold 583 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $115.17, for a total value of $67,144.11. Following the transaction, the insider directly owned 19,285 shares of the company’s stock, valued at $2,221,053.45. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Tapestry Stock Performance

Shares of Tapestry stock traded up $1.09 during trading on Friday, hitting $116.15. 2,124,707 shares of the stock were exchanged, compared to its average volume of 4,412,038. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 5.95. Tapestry, Inc. has a 1-year low of $58.39 and a 1-year high of $118.56. The company has a fifty day moving average price of $110.29 and a 200-day moving average price of $101.40. The stock has a market capitalization of $23.77 billion, a price-to-earnings ratio of 103.71, a price-to-earnings-growth ratio of 2.28 and a beta of 1.65.

Tapestry (NYSE:TPR) last released 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 business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, equities analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Friday, December 5th will be given a $0.40 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. Tapestry’s dividend payout ratio (DPR) is currently 142.86%.

Tapestry announced that its board has authorized a stock buyback plan on Thursday, November 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the luxury accessories retailer to reacquire up to 4.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of recent research reports. Telsey Advisory Group restated an “outperform” rating and issued a $125.00 price objective on shares of Tapestry in a report on Friday, November 7th. Cowen reaffirmed a “buy” rating on shares of Tapestry in a research note on Thursday, August 7th. Raymond James Financial upped their price target on Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. JPMorgan Chase & Co. raised their target price on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Eighteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and a consensus price target of $119.26.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TPR. Jump Financial LLC increased its holdings in Tapestry by 1,025.9% during the 1st quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock worth $5,612,000 after purchasing an additional 72,623 shares during the period. Nuveen LLC bought a new position in shares of Tapestry during the 1st quarter worth approximately $59,133,000. Czech National Bank lifted its holdings in shares of Tapestry by 6.8% during the 2nd quarter. Czech National Bank now owns 50,781 shares of the luxury accessories retailer’s stock valued at $4,459,000 after purchasing an additional 3,233 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Tapestry by 50.6% in the first quarter. Hsbc Holdings PLC now owns 351,793 shares of the luxury accessories retailer’s stock worth $24,596,000 after acquiring an additional 118,200 shares in the last quarter. Finally, Range Financial Group LLC boosted its stake in Tapestry by 20.5% in the 2nd quarter. Range Financial Group LLC now owns 38,447 shares of the luxury accessories retailer’s stock worth $3,376,000 after purchasing an additional 6,535 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.