Tapestry, Inc. (NYSE:TPR) General Counsel Sells $1,048,696.00 in Stock

Tapestry, Inc. (NYSE:TPR) General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Tapestry Trading Down 2.2 %

NYSE:TPR opened at $84.60 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The stock’s 50-day moving average is $72.63 and its two-hundred day moving average is $56.48. The stock has a market cap of $17.51 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter in the previous year, the firm posted $1.63 EPS. As a group, equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.65%. Tapestry’s payout ratio is 40.58%.

Wall Street Analyst Weigh In

Several brokerages have commented on TPR. BMO Capital Markets boosted their price target on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 18th. Morgan Stanley reiterated an “equal weight” rating and issued a $65.00 price target on shares of Tapestry in a research report on Tuesday, January 21st. Daiwa America upgraded shares of Tapestry to a “hold” rating in a research report on Monday, November 18th. TD Cowen cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a research report on Tuesday, October 29th. Finally, Bank of America boosted their price target on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and an average price target of $78.53.

Institutional Investors Weigh In On Tapestry

Large investors have recently made changes to their positions in the company. Waldron Private Wealth LLC bought a new stake in shares of Tapestry in the 3rd quarter valued at approximately $25,000. Greenline Partners LLC bought a new stake in shares of Tapestry in the 4th quarter valued at approximately $29,000. Coppell Advisory Solutions LLC grew its stake in shares of Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after buying an additional 150 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after buying an additional 252 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Tapestry in the 3rd quarter valued at approximately $47,000. Institutional investors own 90.77% of the company’s stock.

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.