Tapestry, Inc. (NYSE:TPR) Shares Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC decreased its position in Tapestry, Inc. (NYSE:TPR) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,975 shares of the luxury accessories retailer’s stock after selling 600 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Tapestry were worth $3,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of Tapestry by 7.5% in the third quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock valued at $20,381,000 after buying an additional 30,121 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in Tapestry in the 4th quarter valued at $328,000. Valley Wealth Managers Inc. raised its holdings in Tapestry by 2.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock valued at $19,971,000 after acquiring an additional 8,833 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in Tapestry in the 4th quarter valued at $3,437,000. Finally, Westfield Capital Management Co. LP increased its stake in Tapestry by 14.8% in the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after purchasing an additional 219,544 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Down 3.5 %

NYSE TPR opened at $75.00 on Friday. The stock has a market cap of $15.53 billion, a PE ratio of 21.74, a P/E/G ratio of 2.01 and a beta of 1.58. The business has a 50 day moving average price of $76.04 and a two-hundred day moving average price of $59.29. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85.

Tapestry (NYSE:TPR) last announced 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 net margin of 11.74% and a return on equity of 44.00%. During the same period in the prior year, the firm earned $1.63 earnings per share. As a group, sell-side analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio is currently 40.58%.

Insider Activity at Tapestry

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the 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 transaction, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. This represents a 23.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction dated Thursday, February 20th. The stock was 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 directly owns 146,587 shares in the company, valued at $12,688,570.72. The trade was a 14.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,537 shares of company stock valued at $5,730,589. Insiders own 1.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group upped their target price on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Evercore ISI upped their price target on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. BMO Capital Markets upped 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. Wells Fargo & Company upped their price target on shares of Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Six 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.53.

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.