Insider Selling: Tapestry (NYSE:TPR) Insider Sells $670,357.80 in Stock

Tapestry, Inc. (NYSE:TPR) insider Denise Kulikowsky sold 5,810 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total value of $670,357.80. Following the completion of the sale, the insider directly owned 21,136 shares of the company’s stock, valued at $2,438,671.68. This trade represents a 21.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Tapestry Trading Up 2.2%

Shares of TPR stock 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. Tapestry, Inc. has a twelve month low of $93.00 and a twelve month high of $164.80. The company’s 50-day moving average price is $137.94 and its 200-day moving average price is $142.10. The stock has a market cap of $23.61 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.50 and a beta of 1.42.

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

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be issued a $0.4625 dividend. This is a boost from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, September 4th. Tapestry’s payout ratio is currently 25.38%.

Institutional Trading of Tapestry

Institutional investors and hedge funds have recently bought and sold shares of the business. Woodline Partners LP increased 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 worth $1,231,000 after buying an additional 3,495 shares during the period. Acadian Asset Management LLC purchased a new position in Tapestry in the 1st quarter valued at approximately $493,000. Sivia Capital Partners LLC acquired a new position in shares of Tapestry in the second quarter worth $602,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Tapestry in the second quarter worth $6,307,000. Finally, Brown Advisory Inc. increased its position in shares of Tapestry by 13.8% during the second quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock worth $319,000 after acquiring an additional 439 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TPR shares. JPMorgan Chase & Co. lifted their target price on Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Wells Fargo & Company lowered their price target on Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Zacks Research downgraded Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Sanford C. Bernstein restated a “market perform” rating and issued a $185.00 price objective (up from $180.00) on shares of Tapestry in a report on Friday, August 14th. Finally, UBS Group reaffirmed a “buy” rating on shares of Tapestry in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.12.

Tapestry Company Profile

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.