Tapestry, Inc. (NYSE:TPR) executive Manesh Dadlani, the company's Vice President, Controller, and Principal Accounting Officer, has sold a total of 2,500 shares of common stock, a recent SEC filing revealed. The transaction, dated May 24, 2024, was executed at an average price of $42.23 per share, resulting in a total value of $105,574.
The sale took place within a narrow price range, with all securities being sold at prices that did not vary by more than one dollar, indicating a consistent market value during the time of the transaction. Following the sale, Dadlani's holdings in Tapestry have decreased, yet he still retains 37,173 shares of the company's common stock.
This financial activity comes as part of the standard disclosures required of company insiders, providing transparency into executive trades of Tapestry's stock. The details of the sale are publicly available for investors who monitor insider trading patterns as part of their investment research.
Tapestry, Inc., formerly known as Coach Inc (NYSE:TPR)., is known for its luxury accessories and lifestyle brands and maintains its headquarters at 10 Hudson (NYSE:HUD) Yards, New York. The company's stock is traded on the New York Stock Exchange under the ticker symbol TPR, and it operates within the leather and leather products industry.
Investors and market watchers often keep a close eye on insider transactions as they can provide insights into executives' perspectives on their company's current valuation and future prospects. However, it's important to note that insider trading activities can be subject to various personal financial needs and strategies, and not necessarily directly indicative of the company's operational performance.
InvestingPro Insights
Amidst the recent insider trading activity at Tapestry, Inc. (NYSE:TPR), investors seeking a deeper understanding of the company's financial health can look to a few key metrics and tips from InvestingPro. Tapestry's market capitalization stands at a solid $9.54 billion, reflecting its significant presence in the luxury accessories market. Moreover, the company boasts an impressive gross profit margin of 72.71% for the last twelve months as of Q3 2024, underscoring its ability to maintain high profitability in its operations.
Looking at the company's performance, Tapestry has been able to raise its dividend for three consecutive years, with a notable dividend growth of 16.67% in the same period. This consistent return to shareholders is complemented by a dividend yield of 3.37%, making it an attractive stock for income-focused investors. Additionally, the stock has experienced a large price uptick over the last six months, with a total return of 33.52%, signaling strong investor confidence.
While Tapestry's stock price movements have been quite volatile, the company's solid fundamentals may offer reassurance. InvestingPro Tips highlight that Tapestry operates with a moderate level of debt and has maintained dividend payments for 16 consecutive years, reflecting financial stability and a commitment to shareholder returns. For those looking to delve deeper into Tapestry's financial outlook, InvestingPro offers an array of additional tips. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering you access to more exclusive insights.
The insights provided by InvestingPro, including the 17 additional tips available on https://www.investing.com/pro/TPR, can help investors make more informed decisions by considering both the insider trading patterns and the broader financial metrics of Tapestry, Inc.
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