Joanne Crevoiserat Sells 31,735 Shares of Tapestry (NYSE:TPR) Stock

Tapestry, Inc. (NYSE:TPR) CEO Joanne Crevoiserat sold 31,735 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $105.31, for a total value of $3,342,012.85. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Tapestry Stock Performance

Shares of NYSE:TPR traded up $0.31 during midday trading on Monday, reaching $105.55. The company had a trading volume of 6,182,447 shares, compared to its average volume of 4,478,021. The stock has a market cap of $21.60 billion, a P/E ratio of 167.54, a P/E/G ratio of 2.72 and a beta of 1.71. The company’s 50 day moving average price is $110.62 and its 200 day moving average price is $99.86. 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, Inc. has a 52-week low of $58.39 and a 52-week high of $118.56.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, topping the consensus estimate of $1.25 by $0.13. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Friday, December 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. Tapestry’s payout ratio is presently 142.86%.

Tapestry declared that its Board of Directors has approved a share repurchase 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 often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TPR. Jefferies Financial Group boosted their price objective on Tapestry from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Raymond James Financial boosted their target price on shares of Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Bank of America lowered Tapestry from a “buy” rating to a “neutral” rating and raised their price target for the stock from $95.00 to $115.00 in a report on Tuesday, July 29th. Evercore ISI raised their target price on Tapestry from $125.00 to $129.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Finally, BTIG Research assumed coverage on shares of Tapestry in a report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 price target on the stock. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Tapestry has an average rating of “Moderate Buy” and a consensus price target of $119.26.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jump Financial LLC boosted its stake in shares of Tapestry by 1,025.9% in the 1st quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock valued at $5,612,000 after purchasing an additional 72,623 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Tapestry during the first quarter valued at approximately $59,133,000. Czech National Bank raised its holdings in 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 buying an additional 3,233 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Tapestry by 50.6% during the first quarter. Hsbc Holdings PLC now owns 351,793 shares of the luxury accessories retailer’s stock valued at $24,596,000 after acquiring an additional 118,200 shares during the last quarter. Finally, Range Financial Group LLC boosted its holdings in shares of Tapestry by 20.5% during the second 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 during the period. 90.77% of the stock is currently 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.