Insider Selling: Tapestry, Inc. (NYSE:TPR) General Counsel Sells 11,917 Shares of Stock

Tapestry, Inc. (NYSE:TPR) 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 value of $1,048,696.00. Following the sale, the general counsel now directly owns 38,609 shares in the company, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Tapestry Stock Performance

Tapestry stock opened at $84.60 on Monday. The stock’s 50-day moving average is $72.63 and its 200-day moving average is $56.75. The company has a market cap of $17.51 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period in the prior year, the business posted $1.63 EPS. Equities analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.65%. Tapestry’s payout ratio is currently 40.58%.

Analysts Set New Price Targets

A number of analysts recently commented on TPR shares. Daiwa America raised Tapestry to a “hold” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. increased their price objective on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Telsey Advisory Group increased their price objective on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Barclays increased their price objective on Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, TD Cowen lowered Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a research note on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.53.

Institutional Investors Weigh In On Tapestry

Hedge funds have recently modified their holdings of the stock. Greenline Partners LLC purchased a new stake in shares of Tapestry during the 4th quarter valued at about $29,000. Coppell Advisory Solutions LLC raised its holdings in shares of Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after buying an additional 150 shares during the period. Waldron Private Wealth LLC purchased a new stake in shares of Tapestry during the 3rd quarter valued at about $25,000. Venturi Wealth Management LLC raised its holdings in shares of Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after buying an additional 252 shares during the period. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of Tapestry during the 4th quarter valued at about $48,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Company 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.