Key Points
- Tapestry insider Denise Kulikowsky sold 5,810 shares for approximately $670,358, reducing her position by 21.56% to 21,136 shares.
- Tapestry reported quarterly earnings of $1.32 per share, exceeding estimates by $0.04, while revenue rose 8.9% year over year to $1.88 billion.
- The company increased its quarterly dividend from $0.40 to $0.4625 per share, equating to an annualized dividend of $1.85 and a 1.6% yield; analysts maintain a consensus “Moderate Buy” rating with a $175.12 target price.
Tapestry, Inc. (NYSE:TPR - Get Free Report) insider Denise Kulikowsky sold 5,810 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total value of $670,357.80. Following the sale, the insider owned 21,136 shares in the company, valued at $2,438,671.68. The trade was a 21.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Tapestry Stock Up 2.0%
Shares of NYSE:TPR opened at $116.03 on Friday. The firm has a market capitalization of $23.13 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42. The business has a 50 day simple moving average of $138.46 and a two-hundred day simple moving average of $142.27. Tapestry, Inc. has a 1 year low of $93.00 and a 1 year high of $164.80. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25.
Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the business posted $1.04 earnings per share. The company's revenue for the quarter was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, equities analysts predict that Tapestry, Inc. will post 7.94 EPS for the current year.
Tapestry Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be paid a $0.4625 dividend. The ex-dividend date is Friday, September 4th. This is a positive change 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%. Tapestry's payout ratio is 25.38%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on TPR. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $205.00 to $211.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Daiwa Securities Group raised shares of Tapestry from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 17th. Weiss Ratings upgraded shares of Tapestry from a "hold (c)" rating to a "buy (b-)" rating in a report on Friday, August 14th. Sanford C. Bernstein reissued a "market perform" rating and issued a $185.00 price objective (up from $180.00) on shares of Tapestry in a research report on Friday, August 14th. Finally, Telsey Advisory Group boosted their price objective on shares of Tapestry from $160.00 to $175.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.12.
View Our Latest Stock Analysis on TPR
Institutional Investors Weigh In On Tapestry
Hedge funds have recently made changes to their positions in the company. Cetera Trust Company N.A bought a new stake in shares of Tapestry in the 2nd quarter valued at about $26,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Tapestry in the 2nd quarter worth approximately $31,000. Acumen Wealth Advisors LLC bought a new position in shares of Tapestry during the fourth quarter valued at approximately $28,000. Virtus Advisers LLC bought a new position in shares of Tapestry during the second quarter valued at approximately $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Tapestry during the fourth quarter valued at approximately $32,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
Tapestry Company Profile
(
Get Free Report)
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.
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