Tapestry (NYSE:TPR) Insider Denise Kulikowsky Sells 5,810 Shares of Stock

Key Points

• Tapestry insider Denise Kulikowsky sold 5,810 shares at an average price of $115.38, generating approximately $670,358. Her remaining direct ownership fell 21.56% to 21,136 shares.
• Tapestry reported quarterly EPS of $1.32, exceeding analyst expectations of $1.28, while revenue rose 8.9% year over year to $1.88 billion. The company also raised its quarterly dividend to $0.4625 per share, implying a 1.6% yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $175.12 price target, although Tapestry shares traded at $116.03 and remained below their 50-day and 200-day moving averages.

Tapestry, Inc. (NYSE:TPR - Get Free Report) insider Denise Kulikowsky sold 5,810 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 21,136 shares of the company's stock, valued at approximately $2,438,671.68. This represents a 21.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Tapestry Stock Performance

Tapestry stock traded up $2.32 during mid-day trading on Thursday, reaching $116.03. 3,177,285 shares of the company's stock were exchanged, compared to its average volume of 2,549,837. The business's fifty day simple moving average is $139.02 and its 200 day simple moving average is $142.56. The firm has a market capitalization of $23.13 billion, a PE ratio of 15.92, a P/E/G ratio of 1.49 and a beta of 1.42. Tapestry, Inc. has a one year low of $93.00 and a one year high of $164.80. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company earned $1.04 EPS. The business'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, sell-side analysts expect that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, September 4th. This is an increase from Tapestry's previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a yield of 1.6%. Tapestry's dividend payout ratio (DPR) is currently 25.38%.

Hedge Funds Weigh In On Tapestry

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPR. Tidal Investments LLC increased its stake in shares of Tapestry by 14.7% in the second quarter. Tidal Investments LLC now owns 67,741 shares of the luxury accessories retailer's stock worth $9,916,000 after purchasing an additional 8,656 shares in the last quarter. Engineers Gate Manager LP lifted its stake in shares of Tapestry by 557.7% during the 2nd quarter. Engineers Gate Manager LP now owns 472,467 shares of the luxury accessories retailer's stock valued at $69,160,000 after buying an additional 400,628 shares in the last quarter. Capital Analysts LLC boosted its holdings in Tapestry by 21.4% in the 2nd quarter. Capital Analysts LLC now owns 1,408 shares of the luxury accessories retailer's stock worth $206,000 after buying an additional 248 shares during the period. SVB Wealth LLC boosted its holdings in Tapestry by 7.7% in the 2nd quarter. SVB Wealth LLC now owns 1,528 shares of the luxury accessories retailer's stock worth $224,000 after buying an additional 109 shares during the period. Finally, NewEdge Advisors LLC grew its stake in Tapestry by 15.8% in the 2nd quarter. NewEdge Advisors LLC now owns 80,827 shares of the luxury accessories retailer's stock valued at $11,832,000 after buying an additional 11,010 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

TPR has been the topic of several research reports. Wells Fargo & Company lowered their price objective on shares of Tapestry from $165.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, August 13th. Wall Street Zen downgraded shares of Tapestry from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. Telsey Advisory Group lifted their price target on shares of Tapestry from $160.00 to $175.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Daiwa Securities Group upgraded Tapestry from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 17th. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $185.00 price objective (up from $180.00) on shares of Tapestry in a report on Friday, August 14th. Two 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 company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.12.

About Tapestry

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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