Tapestry (NYSE:TPR) Director Sells $1,202,070.80 in Stock

Key Points

• Tapestry, Inc. Director Alan Ka Ming Lau sold 11,320 shares of stock at an average price of $106.19, resulting in a total value of $1,202,070.80, leading to a 58.13% decrease in ownership.
• The company recently increased its quarterly dividend from $0.35 to $0.40, reflecting a yield of 1.5% and a payout ratio of approximately 253.97%.
• Tapestry's latest earnings report indicated earnings per share of $1.04, exceeding analyst expectations and showcasing an 8.3% year-over-year revenue growth.

Tapestry, Inc. (NYSE:TPR - Get Free Report) Director Alan Ka Ming Lau sold 11,320 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the sale, the director owned 8,153 shares in the company, valued at $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Tapestry Price Performance

NYSE:TPR traded up $3.45 during trading hours on Monday, reaching $109.92. The stock had a trading volume of 2,160,445 shares, compared to its average volume of 4,863,217. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. Tapestry, Inc. has a 52 week low of $42.06 and a 52 week high of $114.05. The company has a 50 day moving average price of $103.86 and a two-hundred day moving average price of $85.54. The stock has a market capitalization of $22.88 billion, a PE ratio of 174.64, a PEG ratio of 2.57 and a beta of 1.52.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the company earned $0.92 EPS. The company's quarterly revenue was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a $0.40 dividend. This is a boost from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date is Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. Tapestry's payout ratio is presently 253.97%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TPR. Morgan Stanley lifted their price target on Tapestry from $90.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $112.00 price objective on shares of Tapestry in a research note on Friday, August 15th. Barclays increased their target price on shares of Tapestry from $111.00 to $127.00 and gave the company an "overweight" rating in a research note on Thursday. Wall Street Zen upgraded Tapestry from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Finally, Cowen reissued a "buy" rating on shares of Tapestry in a research note on Thursday, August 7th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $106.47.

Institutional Trading of Tapestry

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Tapestry by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer's stock valued at $2,274,536,000 after purchasing an additional 606,686 shares in the last quarter. Geode Capital Management LLC raised its stake in Tapestry by 3.0% in the second quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer's stock worth $482,125,000 after buying an additional 158,782 shares in the last quarter. SRS Investment Management LLC lifted its holdings in Tapestry by 12.4% during the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer's stock worth $468,275,000 after buying an additional 589,000 shares during the period. Schroder Investment Management Group boosted its position in Tapestry by 1,661.6% during the 2nd quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer's stock valued at $351,487,000 after acquiring an additional 3,775,593 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Tapestry by 36.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer's stock worth $311,388,000 after acquiring an additional 939,227 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.