Tapestry, Inc. (NYSE:TPR) Shares Sold by Xponance Inc.

Xponance Inc. reduced its stake in shares of Tapestry, Inc. (NYSE:TPR) by 39.0% during the 4th quarter, HoldingsChannel reports. The fund owned 47,211 shares of the luxury accessories retailer’s stock after selling 30,205 shares during the period. Xponance Inc.’s holdings in Tapestry were worth $3,084,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TPR. GSA Capital Partners LLP purchased a new position in shares of Tapestry during the 3rd quarter worth about $237,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Tapestry by 42.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,779 shares of the luxury accessories retailer’s stock worth $365,000 after acquiring an additional 2,326 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of Tapestry by 3.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock worth $353,000 after acquiring an additional 218 shares during the period. Caprock Group LLC purchased a new position in shares of Tapestry during the 3rd quarter worth about $240,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Tapestry during the 3rd quarter worth about $251,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TPR. Wells Fargo & Company increased their price objective on shares of Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their price target on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. The Goldman Sachs Group raised their price target on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 7th. Morgan Stanley restated an “equal weight” rating and issued a $65.00 price target on shares of Tapestry in a report on Tuesday, January 21st. Finally, Redburn Atlantic upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and an average target price of $78.53.

Tapestry Stock Down 0.8 %

TPR stock opened at $72.89 on Friday. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. 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 company has a market capitalization of $15.09 billion, a P/E ratio of 21.13, a PEG ratio of 2.01 and a beta of 1.57. The firm has a 50 day simple moving average of $77.05 and a 200-day simple moving average of $61.45.

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 net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the prior year, the company earned $1.63 earnings per share. On average, equities research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, March 6th. Tapestry’s payout ratio is currently 40.58%.

Insiders Place Their Bets

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