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

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 value of $7,556,881.65. Following the transaction, the chief executive officer owned 671,193 shares of the company’s stock, valued at approximately $103,947,659.91. The trade was a 6.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Tapestry Trading Down 1.8%

TPR stock traded down $2.75 during midday trading on Thursday, reaching $152.25. The company’s stock had a trading volume of 1,326,741 shares, compared to its average volume of 2,472,062. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $158.28. The firm has a market capitalization of $30.82 billion, a price-to-earnings ratio of 62.91, a PEG ratio of 1.89 and a beta of 1.63. The stock has a fifty day simple moving average of $133.68 and a two-hundred day simple moving average of $117.51. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63.

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

Tapestry announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the luxury accessories retailer to buy up to 4.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s payout ratio is currently 66.12%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPR. Vanguard Group Inc. boosted its position in Tapestry by 2.4% in the second quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock valued at $2,274,536,000 after buying an additional 606,686 shares during the last quarter. State Street Corp boosted its holdings in shares of Tapestry by 3.8% in the 4th quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock valued at $1,223,795,000 after acquiring an additional 348,334 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Tapestry by 92.8% in 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 during the period. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 203,764 shares during the last quarter. Finally, SRS Investment Management LLC lifted its position in Tapestry by 12.4% during the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock valued at $468,275,000 after purchasing an additional 589,000 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on TPR. Barclays set a $179.00 target price on Tapestry and gave the stock an “overweight” rating in a report on Friday, February 6th. BNP Paribas Exane initiated coverage on Tapestry in a report on Friday, February 13th. They issued an “outperform” rating and a $176.00 price objective for the company. Argus upgraded shares of Tapestry to a “strong-buy” rating in a report on Friday, January 16th. TD Cowen reissued a “buy” rating on shares of Tapestry in a research report on Tuesday, February 10th. Finally, Morgan Stanley upped their price target on shares of Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.00.

About Tapestry

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.