Insider Selling: Tapestry, Inc. (NYSE:TPR) CEO Sells 7,786 Shares of Stock

Tapestry, Inc. (NYSE:TPR) CEO Todd Kahn sold 7,786 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 201,531 shares of the company’s stock, valued at approximately $17,652,100.29. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Tapestry Stock Performance

Shares of TPR opened at $84.29 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The stock has a market capitalization 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. The firm’s fifty day simple moving average is $73.04 and its two-hundred day simple moving average is $57.08. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating 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 company earned $1.63 EPS. As a group, analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

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

Institutional Trading of Tapestry

A number of institutional investors have recently bought and sold shares of the company. Greenline Partners LLC acquired a new position in shares of Tapestry during the fourth quarter valued at about $29,000. Coppell Advisory Solutions LLC raised its holdings in shares of 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 during the period. Venturi Wealth Management LLC raised its holdings in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after purchasing an additional 252 shares during the period. Brooklyn Investment Group acquired a new position in shares of Tapestry during the third quarter valued at about $47,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in shares of Tapestry during the fourth quarter valued at about $48,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TPR. Raymond James reaffirmed an “outperform” rating and set a $88.00 target price (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th. BMO Capital Markets boosted their target price on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, November 18th. Evercore ISI boosted their target price on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Barclays boosted their target price on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Guggenheim boosted their target price on shares of Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Tapestry has an average rating of “Moderate Buy” and a consensus target price of $78.53.

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.