Howard David E, the General Counsel and Secretary of Tapestry, Inc. (NYSE:TPR), recently executed a series of stock transactions involving the company's common stock. On November 22, Howard sold shares amounting to a total of $2,483,196. The sale prices ranged from $58.82 to $58.97 per share.
In addition to the stock sales, Howard acquired shares through multiple exercises, with a total value of $1,674,328. The acquisition prices ranged from $33.81 to $42.31 per share. These transactions reflect a strategic maneuver by Howard, who now holds 50,186 shares of Tapestry following these activities.
In other recent news, Tapestry Inc. has been the subject of several analyst reports. TD Cowen maintained its Hold rating on the company, citing strong performance from its Coach brand and potential growth opportunities in China. However, the firm also noted industry headwinds and the need for the Kate Spade brand's turnaround.
Baird and Telsey Advisory Group, on the other hand, maintained an Outperform rating on Tapestry, with Baird increasing the price target to $64 and Telsey to $67. Both firms highlighted the company's robust first-quarter results, which exceeded expectations, and the potential for earnings growth due to a new $2.8 billion share buyback authorization.
Tapestry's Coach brand demonstrated resilience with a 2% increase in constant currency in the last quarter, while Stuart Weitzman experienced an unexpected sales increase. However, the Kate Spade brand saw a sales dip. Despite these mixed results, Tapestry updated its fiscal year 2025 guidance, surpassing previous consensus estimates, and remains optimistic about its future.
These recent developments follow the termination of a merger agreement and the company's decision to contest an injunction blocking the acquisition of Capri Holdings (NYSE:CPRI). These are among the recent developments that investors will be keeping an eye on as they assess Tapestry's future trajectory in the competitive luxury goods market.
InvestingPro Insights
The recent stock transactions by Howard David E, Tapestry's General Counsel and Secretary, align with the company's strong market performance. According to InvestingPro data, Tapestry's stock has shown impressive returns, with a 106.05% price total return over the past year and a 50.9% return in the last three months. This robust performance has pushed the stock price to 99.38% of its 52-week high, trading at $60.85 as of the previous close.
InvestingPro Tips highlight that Tapestry has raised its dividend for 4 consecutive years and has maintained dividend payments for 16 consecutive years, demonstrating a commitment to shareholder returns. The company's current dividend yield stands at 2.3%, which may be attractive to income-focused investors.
Furthermore, Tapestry's financial health appears solid, with InvestingPro Tips noting that the company operates with a moderate level of debt and its liquid assets exceed short-term obligations. This financial stability is complemented by impressive gross profit margins, which stand at 73.91% for the last twelve months as of Q1 2025.
For investors seeking more comprehensive analysis, InvestingPro offers 13 additional tips for Tapestry, providing a deeper understanding of the company's financial position and market outlook.
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