Investors Research Corp Sells 10,700 Shares of Tapestry, Inc. (NYSE:TPR)

Investors Research Corp lessened its position in shares of Tapestry, Inc. (NYSE:TPR) by 56.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,275 shares of the luxury accessories retailer’s stock after selling 10,700 shares during the period. Investors Research Corp’s holdings in Tapestry were worth $541,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TPR. Erste Asset Management GmbH bought a new stake in shares of Tapestry during the third quarter worth approximately $64,016,000. WT Asset Management Ltd acquired a new stake in shares of Tapestry in the fourth quarter valued at approximately $42,762,000. Raymond James Financial Inc. acquired a new stake in shares of Tapestry in the fourth quarter valued at approximately $38,180,000. Bank of Montreal Can raised its position in shares of Tapestry by 76.6% in the third quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer’s stock valued at $59,641,000 after buying an additional 539,793 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Tapestry by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock valued at $522,471,000 after buying an additional 382,856 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

NYSE TPR opened at $70.67 on Tuesday. The firm’s fifty day moving average price is $76.32 and its two-hundred day moving average price is $60.01. The stock has a market cap of $14.63 billion, a PE ratio of 20.49, a PEG ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. 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 (NYSE:TPR) last posted its 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 net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the previous year, the firm earned $1.63 EPS. On average, equities analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently disclosed 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 1.98%. Tapestry’s dividend payout ratio is 40.58%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TPR shares. 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. Evercore ISI lifted their price target on shares of Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Daiwa America upgraded shares of Tapestry to a “hold” rating in a research report on Monday, November 18th. Wells Fargo & Company boosted their price objective on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Redburn Atlantic upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.53.

Insider Buying and Selling

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the sale, the general counsel now owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the sale, the chief executive officer now directly owns 201,531 shares in the company, valued at $17,652,100.29. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock valued at $5,730,589 over the last 90 days. 1.18% of the stock is owned by insiders.

Tapestry 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.