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

Tapestry, Inc. (NYSE:TPR) CEO Joanne Crevoiserat sold 27,776 shares of the firm’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 completion of the sale, the chief executive officer owned 652,434 shares in the company, valued at $86,701,954.26. This represents a 4.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tapestry Trading Down 1.8%

Shares of TPR stock opened at $130.32 on Friday. Tapestry, Inc. has a 12-month low of $76.29 and a 12-month high of $161.97. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48. The firm’s 50 day moving average is $144.00 and its 200 day moving average is $132.83. The stock has a market capitalization of $26.33 billion, a P/E ratio of 41.77, a P/E/G ratio of 1.35 and a beta of 1.45.

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

Tapestry Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $142.00 to $187.00 in a research note on Friday, May 8th. Robert W. Baird raised their target price on Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Citigroup boosted their price target on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Telsey Advisory Group boosted their price target on Tapestry to $150.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, Wells Fargo & Company boosted their price target on Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.67.

Institutional Trading of Tapestry

Institutional investors and hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC raised its position in shares of Tapestry by 21.7% during the 3rd quarter. Fisher Asset Management LLC now owns 608,266 shares of the luxury accessories retailer’s stock valued at $68,868,000 after purchasing an additional 108,278 shares during the period. DNB Asset Management AS increased its holdings in Tapestry by 1,331.4% in the 3rd quarter. DNB Asset Management AS now owns 39,478 shares of the luxury accessories retailer’s stock valued at $4,470,000 after acquiring an additional 36,720 shares during the last quarter. Nordea Investment Management AB bought a new stake in Tapestry in the 3rd quarter valued at $2,042,000. WCM Investment Management LLC increased its holdings in Tapestry by 45.5% in the 3rd quarter. WCM Investment Management LLC now owns 815,037 shares of the luxury accessories retailer’s stock valued at $90,844,000 after acquiring an additional 254,936 shares during the last quarter. Finally, Ritholtz Wealth Management increased its holdings in Tapestry by 63.3% in the 3rd quarter. Ritholtz Wealth Management now owns 73,486 shares of the luxury accessories retailer’s stock valued at $8,320,000 after acquiring an additional 28,477 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

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.