Key Points
- CEO Joanne Crevoiserat sold 27,761 Tapestry shares at an average price of $132.47, generating approximately $3.68 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving her with 666,149 shares.
- Tapestry reported quarterly EPS of $1.32, exceeding estimates by $0.04, while revenue rose 8.9% year over year to $1.88 billion. The company also issued fiscal 2027 EPS guidance of $7.80–$7.90.
- The company increased its quarterly dividend to $0.4625 per share from $0.40, implying an annualized dividend of $1.85 and a 1.4% yield. Analysts maintain a consensus “Moderate Buy” rating with a $175.12 price target.
Tapestry, Inc. (NYSE:TPR - Get Free Report) CEO Joanne Crevoiserat sold 27,761 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the transaction, the chief executive officer directly owned 666,149 shares of the company's stock, valued at approximately $88,244,758.03. This represents a 4.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Tapestry Trading Down 1.8%
NYSE:TPR opened at $129.38 on Friday. Tapestry, Inc. has a 12 month low of $93.00 and a 12 month high of $164.80. The firm has a fifty day simple moving average of $145.46 and a 200-day simple moving average of $144.86. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. The company has a market capitalization of $25.80 billion, a P/E ratio of 17.75, a PEG ratio of 1.67 and a beta of 1.43.
Tapestry (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.04. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The firm's revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, equities research analysts anticipate that Tapestry, Inc. will post 7.94 earnings per share for the current year.
Tapestry Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Stockholders 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 dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 4th. Tapestry's dividend payout ratio is currently 21.95%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on TPR shares. UBS Group lifted their target price on Tapestry from $230.00 to $232.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Barclays increased their price target on shares of Tapestry from $182.00 to $185.00 and gave the stock an "overweight" rating in a report on Friday, August 14th. Daiwa Securities Group raised shares of Tapestry from a "hold" rating to a "strong-buy" rating in a research report on Monday. Wells Fargo & Company decreased their price objective on shares of Tapestry from $165.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, August 13th. Finally, Morgan Stanley dropped their price objective on shares of Tapestry from $164.00 to $159.00 and set an "overweight" rating on the stock in a report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.12.
Read Our Latest Stock Analysis on TPR
Institutional Trading of Tapestry
A number of hedge funds have recently modified their holdings of the stock. Cetera Trust Company N.A purchased a new position in Tapestry during the second quarter valued at approximately $26,000. Acumen Wealth Advisors LLC purchased a new stake in Tapestry in the 4th quarter worth approximately $28,000. Triumph Capital Management purchased a new stake in Tapestry in the 3rd quarter worth approximately $29,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Tapestry during the 2nd quarter worth approximately $31,000. Finally, Virtus Advisers LLC acquired a new stake in shares of Tapestry during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 90.77% of the company's stock.
About Tapestry
(
Get Free Report)
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.
Further Reading
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