Tapestry, Inc. (NYSE:TPR) CEO Sells $3,256,000.00 in Stock

by · The Cerbat Gem

Tapestry, Inc. (NYSE:TPR – Get Free Report) CEO Todd Kahn sold 40,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $81.40, for a total value of $3,256,000.00. Following the completion of the sale, the chief executive officer now directly owns 116,062 shares in the company, valued at approximately $9,447,446.80. This represents a 25.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Todd Kahn also recently made the following trade(s):

  • On Tuesday, February 25th, Todd Kahn sold 21,107 shares of Tapestry stock. The shares were sold at an average price of $84.00, for a total value of $1,772,988.00.
  • On Friday, February 21st, Todd Kahn sold 7,786 shares of Tapestry stock. The shares were sold at an average price of $87.59, for a total value of $681,975.74.

Tapestry Trading Up 5.8%

Shares of NYSE TPR traded up $4.55 during midday trading on Monday, reaching $82.56. 5,627,283 shares of the stock were exchanged, compared to its average volume of 4,222,505. The business has a 50-day simple moving average of $69.75 and a two-hundred day simple moving average of $68.11. The company has a market capitalization of $17.09 billion, a price-to-earnings ratio of 23.93, a P/E/G ratio of 2.01 and a beta of 1.41. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05.

Tapestry (NYSE:TPR – Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.89 by $0.14. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. As a group, equities research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 6th will be given a $0.35 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.40 annualized dividend and a yield of 1.70%. Tapestry’s dividend payout ratio is currently 36.84%.

Analyst Ratings Changes

Several research firms recently weighed in on TPR. Citigroup increased their target price on shares of Tapestry from $81.00 to $94.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group raised their price target on shares of Tapestry from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Friday. Barclays raised their price target on shares of Tapestry from $83.00 to $98.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Redburn Atlantic upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.06.

Check Out Our Latest Research Report on TPR

Institutional Investors Weigh In On Tapestry

Several institutional investors have recently added to or reduced their stakes in the stock. Harbour Investments Inc. lifted its position in Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after buying an additional 197 shares in the last quarter. Greenline Partners LLC bought a new stake in shares of Tapestry in the 4th quarter valued at about $29,000. Coppell Advisory Solutions LLC raised its holdings in shares of Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after purchasing an additional 150 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Tapestry in the 1st quarter valued at about $35,000. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of Tapestry in the 1st quarter valued at about $35,000. 90.77% of the stock is owned by institutional investors.

About Tapestry

(Get Free Report)

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.

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