Tapestry, Inc. (NYSE:TPR) VP Manesh Dadlani Sells 8,872 Shares

Tapestry, Inc. (NYSE:TPR) VP Manesh Dadlani sold 8,872 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Tapestry Stock Down 1.2 %

Shares of TPR opened at $56.55 on Tuesday. The stock’s 50-day moving average price is $46.85 and its two-hundred day moving average price is $43.12. Tapestry, Inc. has a 12 month low of $30.19 and a 12 month high of $58.49. The company has a market capitalization of $13.18 billion, a PE ratio of 16.34, a PEG ratio of 1.99 and a beta of 1.53. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35.

Tapestry Dividend Announcement

The business also recently announced 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. This represents a $1.40 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s payout ratio is presently 40.46%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TPR. Waldron Private Wealth LLC acquired a new stake in shares of Tapestry during the third quarter worth $25,000. Massmutual Trust Co. FSB ADV grew its holdings in Tapestry by 54.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after acquiring an additional 328 shares during the period. Brooklyn Investment Group acquired a new stake in Tapestry during the 3rd quarter worth about $47,000. Blue Trust Inc. raised its position in shares of Tapestry by 111.9% in the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after acquiring an additional 556 shares in the last quarter. Finally, MUFG Securities EMEA plc lifted its stake 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 purchasing an additional 317 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their target price on Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday. Telsey Advisory Group boosted their price objective on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Friday. Citigroup raised their target price on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. UBS Group cut their price target on Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Robert W. Baird raised their price objective on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.82.

About Tapestry

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.