Insider Selling: Tapestry (NYSE:TPR) CEO Sells $2,738,371.14 in Stock

Tapestry, Inc. (NYSE:TPR) CEO Todd Kahn sold 19,557 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tapestry Stock Up 0.0%

TPR opened at $145.40 on Friday. Tapestry, Inc. has a fifty-two week low of $76.92 and a fifty-two week high of $161.97. The firm has a market capitalization of $29.38 billion, a P/E ratio of 46.60, a PEG ratio of 1.48 and a beta of 1.45. The company’s 50-day moving average is $142.31 and its 200 day moving average is $134.90. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. 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 fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry’s dividend payout ratio is currently 51.28%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TPR. Telsey Advisory Group boosted their price objective on Tapestry to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Robert W. Baird raised their target price on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Evercore set a $175.00 target price on Tapestry in a research note on Friday, May 8th. Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, UBS Group upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and increased their price target for the company from $142.00 to $187.00 in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $160.67.

Hedge Funds Weigh In On Tapestry

Several institutional investors have recently bought and sold shares of the company. Woodline Partners LP grew its holdings in Tapestry by 25.0% during the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after purchasing an additional 3,495 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Tapestry in the first quarter valued at $493,000. Sivia Capital Partners LLC purchased a new position in shares of Tapestry during the 2nd quarter valued at $602,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Tapestry during the 2nd quarter valued at $6,307,000. Finally, Brown Advisory Inc. grew its stake in shares of Tapestry by 13.8% during the 2nd 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. 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.