Tapestry (NYSE:TPR) Insider Sells $1,518,389.76 in Stock

Key Points

• Tapestry insider Denise Kulikowsky sold 11,244 shares for about $1.52 million at an average price of $135.04, reducing her stake by 41.7% to 15,721 shares.
• Tapestry reported quarterly EPS of $1.82, beating the $1.56 analyst consensus, while revenue of $1.89 billion also exceeded expectations and rose 11.1% year over year.
• The company declared a quarterly dividend of $0.4625 per share. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $167.26.

Tapestry, Inc. (NYSE:TPR - Get Free Report) insider Denise Kulikowsky sold 11,244 shares of Tapestry stock in a transaction on Monday, November 9th. The stock was sold at an average price of $135.04, for a total value of $1,518,389.76. Following the sale, the insider directly owned 15,721 shares of the company's stock, valued at approximately $2,122,963.84. This trade represents a 41.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Denise Kulikowsky also recently made the following trade(s):

• On Wednesday, September 9th, Denise Kulikowsky sold 5,810 shares of Tapestry stock. The shares were sold at an average price of $115.38, for a total value of $670,357.80.

Tapestry Trading Down 0.3%

NYSE:TPR traded down $0.37 during mid-day trading on Tuesday, hitting $135.70. The company had a trading volume of 2,517,527 shares, compared to its average volume of 2,610,306. Tapestry, Inc. has a fifty-two week low of $99.00 and a fifty-two week high of $164.80. The business's fifty day moving average is $117.62 and its two-hundred day moving average is $136.97. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.25 and a current ratio of 1.75. The firm has a market cap of $27.06 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.58 and a beta of 1.44.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, November 5th. The luxury accessories retailer reported $1.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.56 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.85 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%. The company's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 earnings per share. As a group, research analysts expect that Tapestry, Inc. will post 8.29 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Friday, December 4th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, December 4th. Tapestry's dividend payout ratio (DPR) is currently 23.81%.

Institutional Investors Weigh In On Tapestry

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Tapestry during the second quarter worth about $2,610,995,000. Bank of America Corp DE bought a new position in shares of Tapestry during the 2nd quarter valued at about $771,309,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Tapestry by 53.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,169,602 shares of the luxury accessories retailer's stock valued at $317,586,000 after purchasing an additional 758,915 shares in the last quarter. Amundi lifted its holdings in shares of Tapestry by 96.0% during the 1st quarter. Amundi now owns 1,769,905 shares of the luxury accessories retailer's stock valued at $249,751,000 after purchasing an additional 866,969 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Tapestry in the 2nd quarter valued at approximately $175,291,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TPR. Wall Street Zen lowered shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. JPMorgan Chase & Co. upped 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. Weiss Ratings upgraded shares of Tapestry from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 16th. Wells Fargo & Company increased their target price on shares of Tapestry from $150.00 to $155.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Robert W. Baird reduced their price target on shares of Tapestry from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Tapestry currently has a consensus rating of "Moderate Buy" and a consensus price target of $167.26.

Tapestry Company Profile

Tapestry, Inc. is a global fashion company whose portfolio includes Coach and Kate Spade New York. The company designs and sells handbags, accessories, footwear, apparel, jewelry and other lifestyle products through retail stores, e-commerce and wholesale partners. Based in New York, Tapestry serves customers in North America and international markets, including Asia and Europe. Its brands reach consumers through company-operated stores and digital channels as well as select department stores and other retail partners.

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