Tapestry, Inc. Announces Agreements for $2.0 Billion Accelerated Share Repurchase Program
Tapestry, Inc. (TPR)
Last tapestry, inc. earnings: 4/30 06:45 am
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Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman, today announced that it entered into Accelerated Share Repurchase (“ASR”) agreements with Bank of America N.A. and Morgan Stanley & Co. LLC (the “Dealers”) to repurchase $2.0 billion shares of Tapestry common stock. The ASRs will be completed under the Company’s recently expanded $2.8 billion share repurchase authorization. With the ASRs, the Company expects to return over 100 percent of its free cash flow in Fiscal 2025 to shareholders through dividends and share repurchases.Under the ASR agreements, Tapestry will pay $2.0 billion to the Dealers and expects to receive an initial delivery of 28.4 million shares of Tapestry common stock on November 26, 2024, representing approximately 80 percent of the expected shares to be repurchased under the ASR agreements. The total number of shares purchased by Tapestry pursuant to the
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News
- Why These 4 Retail Apparel & Shoes Stocks Are Worth Investing in Now [Yahoo! Finance]Yahoo! Finance
- Tapestry, Inc. Announces Agreements for $2.0 Billion Accelerated Share Repurchase Program [Yahoo! Finance]Yahoo! Finance
- Tapestry, Inc. (NYSE: TPR) was upgraded by analysts at Daiwa America to a "hold" rating.MarketBeat
- Tapestry, Inc. (NYSE: TPR) had its "equal weight" rating re-affirmed by analysts at Barclays PLC. They now have a $57.00 price target on the stock.MarketBeat
- Tapestry, Inc. (NYSE: TPR) had its price target raised by analysts at BMO Capital Markets from $55.00 to $60.00. They now have a "market perform" rating on the stock.MarketBeat
TPR
Earnings
- 11/7/24 - Beat
TPR
Sec Filings
- 11/22/24 - Form 144
- 11/22/24 - Form 8-K
- 11/18/24 - Form 4
- TPR's page on the SEC website