Tapestry (NYSE:TPR) Stock: Insider Scott Roe Sells 54,644 Shares

Key Points

• CFO Scott Roe sold 54,644 Tapestry shares at an average of $135.50, worth about $7.4 million. His remaining stake fell 41.78% to 76,161 shares.
• Tapestry’s latest quarterly results beat expectations: EPS was $1.82 versus the $1.56 consensus, while revenue of $1.89 billion rose 11.1% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $167.26; the company also declared a quarterly dividend of $0.4625 per share.

Tapestry, Inc. (NYSE:TPR - Get Free Report) CFO Scott Roe sold 54,644 shares of the business's stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $135.50, for a total value of $7,404,262.00. Following the transaction, the chief financial officer owned 76,161 shares in the company, valued at approximately $10,319,815.50. This represents a 41.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Tapestry Stock Down 0.7%

Shares of NYSE TPR traded down $0.90 on Thursday, hitting $132.44. The company had a trading volume of 1,777,202 shares, compared to its average volume of 2,899,824. Tapestry, Inc. has a 12-month low of $99.00 and a 12-month high of $164.80. The business has a 50 day moving average of $118.28 and a two-hundred day moving average of $137.05. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 5.70. The firm has a market capitalization of $26.03 billion, a P/E ratio of 17.05, a PEG ratio of 1.51 and a beta of 1.44.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, November 5th. The luxury accessories retailer reported $1.82 EPS for the quarter, beating the consensus estimate of $1.56 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. Tapestry had a return on equity of 274.20% and a net margin of 19.68%. The company's revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $1.38 EPS. As a group, equities research analysts forecast that Tapestry, Inc. will post 8.30 earnings per share for the current fiscal year.

Tapestry Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on TPR. BNP Paribas Exane lifted their price objective on shares of Tapestry from $185.00 to $187.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Raymond James Financial decreased their target price on shares of Tapestry from $165.00 to $140.00 and set an "outperform" rating for the company in a research note on Friday, October 16th. Argus lowered their price target on shares of Tapestry from $165.00 to $148.00 and set a "buy" rating for the company in a report on Tuesday, August 18th. Cantor Fitzgerald assumed coverage on shares of Tapestry in a research note on Tuesday. They set an "overweight" rating and a $159.00 price target on the stock. Finally, TD Cowen started coverage on shares of Tapestry in a research note on Friday, October 30th. They set a "strong-buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $167.26.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Cetera Trust Company N.A acquired a new stake in shares of Tapestry in the 2nd quarter valued at about $26,000. Keating Financial Advisory Services Inc. bought a new position in shares of Tapestry during the second quarter worth about $31,000. Virtus Advisers LLC bought a new position in shares of Tapestry during the second quarter worth about $32,000. GK Wealth Management LLC bought a new position in shares of Tapestry during the third quarter worth about $28,000. Finally, Signature Equity Partners LLC grew its stake in Tapestry by 1,516.7% in the third quarter. Signature Equity Partners LLC now owns 291 shares of the luxury accessories retailer's stock worth $34,000 after purchasing an additional 273 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

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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