Joanne Crevoiserat Sells 48,795 Shares of Tapestry (NYSE:TPR) Stock

Tapestry, Inc. (NYSE:TPR) CEO Joanne Crevoiserat sold 48,795 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the completion of the sale, the chief executive officer directly owned 671,193 shares in the company, valued at approximately $103,947,659.91. This represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Tapestry Price Performance

TPR stock opened at $157.11 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. The firm has a market cap of $31.81 billion, a price-to-earnings ratio of 64.92, a PEG ratio of 1.87 and a beta of 1.63. The company’s fifty day simple moving average is $134.93 and its 200 day simple moving average is $118.07. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $158.28.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.49. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.29 billion. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The business’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the business posted $2.00 EPS. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, March 6th. Tapestry’s dividend payout ratio is presently 66.12%.

Tapestry declared that its board has initiated a share repurchase program on Thursday, November 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the luxury accessories retailer to repurchase up to 4.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Tapestry

A number of hedge funds have recently added to or reduced their stakes in TPR. Cloud Capital Management LLC purchased a new position in shares of Tapestry during the third quarter valued at approximately $26,000. Vestor Capital LLC purchased a new position in Tapestry during the 2nd quarter worth $27,000. Acumen Wealth Advisors LLC bought a new stake in shares of Tapestry in the 4th quarter worth $28,000. Triumph Capital Management purchased a new stake in shares of Tapestry in the third quarter valued at about $29,000. Finally, Steph & Co. raised its holdings in shares of Tapestry by 128.7% in the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock valued at $30,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

TPR has been the topic of several research analyst reports. The Goldman Sachs Group set a $166.00 target price on shares of Tapestry in a research note on Friday, February 6th. BNP Paribas Exane began coverage on shares of Tapestry in a research report on Friday, February 13th. They set an “outperform” rating and a $176.00 price objective on the stock. Evercore raised their target price on Tapestry from $129.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Wall Street Zen downgraded Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, Citigroup increased their price target on Tapestry from $152.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

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.