Tapestry, Inc. (NYSE:TPR) Shares Sold by Signet Financial Management LLC

Signet Financial Management LLC lessened its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 16.2% in the 4th quarter, Holdings Channel reports. The fund owned 22,667 shares of the luxury accessories retailer’s stock after selling 4,373 shares during the quarter. Signet Financial Management LLC’s holdings in Tapestry were worth $1,481,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of TPR. Friedenthal Financial purchased a new position in shares of Tapestry during the 4th quarter worth $802,000. Wedmont Private Capital purchased a new position in Tapestry during the 4th quarter valued at about $253,000. Reinhart Partners LLC. acquired a new position in shares of Tapestry in the fourth quarter valued at approximately $5,969,000. Czech National Bank raised its stake in shares of Tapestry by 7.7% in the fourth quarter. Czech National Bank now owns 50,527 shares of the luxury accessories retailer’s stock valued at $3,301,000 after acquiring an additional 3,629 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Tapestry by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 71,845 shares of the luxury accessories retailer’s stock valued at $4,694,000 after purchasing an additional 898 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on TPR shares. JPMorgan Chase & Co. increased their target price on Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Bank of America upped their price target on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 25th. Guggenheim boosted their price objective on shares of Tapestry from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Citigroup lifted their price target on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Raymond James restated an “outperform” rating and issued a $57.00 price objective (up previously from $55.00) on shares of Tapestry in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Tapestry has an average rating of “Moderate Buy” and an average price target of $64.76.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction on Friday, November 15th. The stock was 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 owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.18% of the stock is currently owned by insiders.

Tapestry Price Performance

Tapestry stock traded down $0.37 during midday trading on Monday, reaching $66.78. The company’s stock had a trading volume of 3,972,487 shares, compared to its average volume of 4,018,683. The firm has a market capitalization of $15.56 billion, a PE ratio of 19.30, a P/E/G ratio of 1.80 and a beta of 1.58. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $69.09. The stock’s 50 day simple moving average is $61.02 and its 200 day simple moving average is $49.03. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.10%. The ex-dividend date was Friday, December 6th. Tapestry’s payout ratio is currently 40.46%.

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.