Howard David E, General Counsel and Secretary at Tapestry, Inc. (NYSE:TPR), recently sold 11,917 shares of the company's common stock. The transaction, dated February 20, 2025, was executed at a price of $88.00 per share, totaling approximately $1.05 million. Following this sale, Howard retains ownership of 38,609 shares in the company. The sale comes as Tapestry's stock has shown remarkable strength, with a 113% surge over the past six months and currently trading near its 52-week high of $90.85.InvestingPro analysis indicates the stock is trading above its Fair Value, despite the company's impressive 74.77% gross profit margins and consistent dividend growth over the past four years. For deeper insights into Tapestry's valuation and 15+ additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Tapestry Inc. has been the subject of several analyst updates following its strong financial performance. Tapestry's earnings per share (EPS) exceeded expectations, with the company reporting $2.00 against a forecast of $1.75, as noted by TD Cowen. This robust performance was largely driven by the Coach brand, which saw a 10% increase in constant currency. Telsey Advisory Group also highlighted Tapestry's success, raising their price target to $92 and maintaining an Outperform rating, citing the company's growth across various regions and impressive gross margin expansion.
Redburn-Atlantic upgraded Tapestry's stock rating from Neutral to Buy, setting a new price target of $110 due to the company's growth prospects and brand momentum, particularly for Coach. JPMorgan echoed positive sentiments, increasing their price target to $104 while maintaining an Overweight rating, emphasizing Tapestry's strategic investments and growth trajectory. Meanwhile, Citi raised its price target to $85, with expectations that Tapestry's second-quarter sales and EPS will outperform consensus estimates.
These analyst actions reflect confidence in Tapestry's strategic direction and brand strength, with particular emphasis on the Coach brand's performance. Tapestry's focus on operational efficiency and shareholder returns, including share repurchases, has been a key factor in its recent success. The company's revised fiscal year 2025 outlook and proactive management strategies suggest continued potential for growth despite a challenging macroeconomic environment.
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