Tapestry, Inc. (NYSE:TPR) CFO Sells $2,226,929.12 in Stock

Tapestry, Inc. (NYSE:TPR) CFO Scott A. Roe sold 25,727 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the transaction, the chief financial officer now owns 146,587 shares in the company, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Tapestry Trading Down 0.4 %

Shares of Tapestry stock opened at $84.29 on Tuesday. The firm has a 50-day simple moving average of $73.04 and a two-hundred day simple moving average of $57.08. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The company has a market cap of $17.45 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the business posted $1.63 earnings per share. As a group, equities analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.66%. Tapestry’s dividend payout ratio (DPR) is 40.58%.

Institutional Investors Weigh In On Tapestry

A number of institutional investors have recently added to or reduced their stakes in the stock. Coppell Advisory Solutions LLC lifted its holdings in Tapestry by 40.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of Tapestry by 1.9% during the 4th quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer’s stock worth $580,000 after purchasing an additional 163 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Tapestry by 0.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock worth $1,261,000 after purchasing an additional 170 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Tapestry by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock valued at $104,000 after buying an additional 182 shares in the last quarter. Finally, E Fund Management Co. Ltd. boosted its holdings in Tapestry by 1.6% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer’s stock worth $833,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

TPR has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on shares of Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. BMO Capital Markets boosted their price target on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. Jefferies Financial Group increased their price objective on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Redburn Atlantic raised Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a report on Tuesday, February 18th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $65.00 price target on shares of Tapestry in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.53.

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.