Denise Kulikowsky Sells 5,810 Shares of Tapestry (NYSE:TPR) Stock

Tapestry, Inc. (NYSE:TPR) insider Denise Kulikowsky sold 5,810 shares of the company’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total transaction of $670,357.80. Following the completion of the transaction, the insider owned 21,136 shares of the company’s stock, valued at approximately $2,438,671.68. This trade represents a 21.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Tapestry Stock Performance

TPR opened at $118.39 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. The business’s 50 day moving average is $137.94 and its 200-day moving average is $142.10. The stock has a market cap of $23.61 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 1.47 and a beta of 1.42. Tapestry, Inc. has a twelve month low of $93.00 and a twelve month high of $164.80.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, analysts predict that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be given a dividend of $0.4625 per share. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.6%. Tapestry’s payout ratio is presently 25.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Barclays upped their price target on shares of Tapestry from $182.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 14th. UBS Group reissued a “buy” rating on shares of Tapestry in a research note on Tuesday. Zacks Research downgraded Tapestry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Wells Fargo & Company reduced their price objective on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Finally, BTIG Research decreased their target price on shares of Tapestry from $180.00 to $175.00 and set a “buy” rating for the company in a report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and an average target price of $175.12.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Woodline Partners LP grew its stake in Tapestry by 25.0% during the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after acquiring an additional 3,495 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Tapestry in the first quarter worth approximately $493,000. Sivia Capital Partners LLC purchased a new stake in shares of Tapestry in the second quarter worth approximately $602,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Tapestry during the second quarter worth approximately $6,307,000. Finally, Brown Advisory Inc. grew its position in Tapestry by 13.8% during the second quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock valued at $319,000 after purchasing an additional 439 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

About Tapestry

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. Its portfolio includes Coach, known for handbags, leather goods, footwear, apparel, jewelry, watches, and fragrance; Kate Spade New York, which offers handbags, accessories, apparel, footwear, jewelry, home products, and fragrance; and Stuart Weitzman, a designer of women’s luxury footwear.

The company sells its products through directly operated stores, e-commerce platforms, wholesale partners, and specialty retailers.