Joanne Crevoiserat Sells 27,776 Shares of Tapestry (NYSE:TPR) Stock

Tapestry, Inc. (NYSE:TPR) CEO Joanne Crevoiserat sold 27,776 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the sale, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tapestry Trading Down 0.9%

TPR opened at $129.13 on Friday. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. The company has a market cap of $26.09 billion, a price-to-earnings ratio of 41.39, a price-to-earnings-growth ratio of 1.32 and a beta of 1.45. The firm has a 50 day simple moving average of $143.45 and a 200 day simple moving average of $132.81. Tapestry, Inc. has a fifty-two week low of $76.29 and a fifty-two week high of $161.97.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. Tapestry’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, sell-side analysts anticipate that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, June 5th. Tapestry’s dividend payout ratio (DPR) is currently 51.28%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Tapestry from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Telsey Advisory Group raised their price target on shares of Tapestry to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. BTIG Research reaffirmed a “buy” rating and set a $180.00 price target on shares of Tapestry in a research note on Friday, May 8th. Weiss Ratings raised Tapestry from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, UBS Group raised Tapestry from a “neutral” rating to a “buy” rating and raised their price target for the company from $142.00 to $187.00 in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its stake in Tapestry by 3.8% in the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock valued at $1,223,795,000 after purchasing an additional 348,334 shares in the last quarter. Schroder Investment Management Group raised its stake in Tapestry by 92.8% during the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock worth $1,194,678,000 after acquiring an additional 4,500,850 shares in the last quarter. Geode Capital Management LLC raised its stake in Tapestry by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock worth $753,482,000 after acquiring an additional 203,764 shares in the last quarter. AQR Capital Management LLC raised its stake in Tapestry by 21.4% during the third quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock worth $487,708,000 after acquiring an additional 760,646 shares in the last quarter. Finally, Morgan Stanley raised its stake in Tapestry by 8.9% during the fourth quarter. Morgan Stanley now owns 3,327,212 shares of the luxury accessories retailer’s stock worth $425,118,000 after acquiring an additional 270,973 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.