Insider Selling: Tapestry, Inc. (NYSE:TPR) VP Sells $514,221.12 in Stock

Tapestry, Inc. (NYSE:TPR) VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the transaction, the vice president now owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Tapestry Trading Down 0.6 %

Shares of NYSE TPR opened at $55.30 on Thursday. Tapestry, Inc. has a twelve month low of $30.20 and a twelve month high of $58.49. The firm has a market cap of $12.89 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.98 and a beta of 1.53. The business has a fifty day simple moving average of $47.41 and a two-hundred day simple moving average of $43.32. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.53%. Tapestry’s payout ratio is currently 40.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TPR shares. Raymond James reiterated an “outperform” rating and issued a $57.00 target price (up previously from $55.00) on shares of Tapestry in a report on Friday, November 8th. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. The Goldman Sachs Group raised their target price on shares of Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, November 15th. TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a research report on Tuesday, October 29th. Finally, Bank of America raised their price objective on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.78.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Waldron Private Wealth LLC bought a new stake in shares of Tapestry in the 3rd quarter valued at about $25,000. Massmutual Trust Co. FSB ADV raised its stake in Tapestry by 54.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after buying an additional 328 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Tapestry during the third quarter worth $47,000. Blue Trust Inc. boosted its position in Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after acquiring an additional 556 shares in the last quarter. Finally, MUFG Securities EMEA plc increased its holdings in shares of Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after acquiring an additional 317 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Tapestry Company Profile

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.