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

Tapestry, Inc. (NYSE:TPR) CEO Joanne Crevoiserat sold 48,795 shares of the business’s stock in a transaction that occurred 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. This trade represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Tapestry Price Performance

NYSE:TPR traded down $2.75 during trading hours on Thursday, hitting $152.25. 1,326,741 shares of the stock traded hands, compared to its average volume of 2,472,062. The company has a market cap of $30.82 billion, a price-to-earnings ratio of 62.91, a price-to-earnings-growth ratio of 1.89 and a beta of 1.63. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $158.28. The stock has a 50 day moving average price of $133.68 and a 200 day moving average price of $117.51. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.49. The firm had revenue of $2.50 billion during 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 company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 earnings per share. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Sell-side analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry declared that its board has approved a share buyback program on Thursday, November 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the luxury accessories retailer to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Tapestry Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TPR shares. Guggenheim started coverage on shares of Tapestry in a report on Tuesday, December 9th. They issued a “neutral” rating on the stock. The Goldman Sachs Group set a $166.00 price target on shares of Tapestry in a research note on Friday, February 6th. Wells Fargo & Company increased their price objective on shares of Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Wall Street Zen cut Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Finally, Citigroup increased their price target on Tapestry from $152.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Institutional Trading of Tapestry

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cloud Capital Management LLC bought a new stake in shares of Tapestry in the 3rd quarter worth about $26,000. Vestor Capital LLC purchased a new stake in Tapestry in the 2nd quarter worth about $27,000. Acumen Wealth Advisors LLC purchased a new stake in Tapestry in the 4th quarter worth about $28,000. Triumph Capital Management bought a new stake in Tapestry in the third quarter worth about $29,000. Finally, Steph & Co. boosted its position in shares of Tapestry by 128.7% during the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock valued at $30,000 after buying an additional 130 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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.