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

Tapestry, Inc. (NYSE:TPR) CEO Joanne Crevoiserat sold 27,776 shares of the stock in a transaction 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 sale, the chief executive officer owned 652,434 shares of the company’s stock, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tapestry Trading Down 1.8%

Shares of TPR traded down $2.38 during trading hours on Thursday, hitting $130.32. 2,248,711 shares of the stock were exchanged, compared to its average volume of 2,242,799. Tapestry, Inc. has a fifty-two week low of $76.29 and a fifty-two week high of $161.97. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. The business has a 50-day moving average of $144.48 and a 200-day moving average of $132.72. The firm has a market capitalization of $26.33 billion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 1.34 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. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. Tapestry’s revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, research analysts expect that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Announces Dividend

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 paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.2%. Tapestry’s dividend payout ratio is currently 51.28%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TPR. Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and cut their target price for the stock from $142.00 to $138.00 in a research note on Wednesday, January 14th. JPMorgan Chase & Co. increased their target price on shares of Tapestry from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Evercore set a $175.00 price objective on shares of Tapestry in a research note on Friday, May 8th. Argus set a $165.00 price objective on shares of Tapestry in a research note on Thursday, March 12th. Finally, Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and an average price target of $160.67.

Institutional Trading of Tapestry

Several institutional investors and hedge funds have recently made changes to their positions in TPR. Schroder Investment Management Group raised its holdings in shares of Tapestry by 92.8% in the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock valued at $1,194,678,000 after purchasing an additional 4,500,850 shares during the last quarter. Norges Bank purchased a new stake in shares of Tapestry in the fourth quarter valued at about $345,349,000. Wellington Management Group LLP raised its holdings in shares of Tapestry by 632.3% in the fourth quarter. Wellington Management Group LLP now owns 2,366,502 shares of the luxury accessories retailer’s stock valued at $302,368,000 after purchasing an additional 2,043,353 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Tapestry by 250.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock valued at $277,295,000 after purchasing an additional 1,750,566 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Tapestry by 19.3% in the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock valued at $1,044,995,000 after purchasing an additional 1,494,193 shares during the last quarter. 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.