Todd Kahn Sells 21,107 Shares of Tapestry, Inc. (NYSE:TPR) Stock

Tapestry, Inc. (NYSE:TPR) CEO Todd Kahn sold 21,107 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the completion of the transaction, the chief executive officer now owns 176,985 shares in the company, valued at $14,866,740. This represents a 10.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Todd Kahn also recently made the following trade(s):

• On Friday, February 21st, Todd Kahn sold 7,786 shares of Tapestry stock. The stock was sold at an average price of $87.59, for a total value of $681,975.74.

Tapestry Trading Down 2.6 %

Shares of TPR opened at $84.30 on Friday. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year 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 firm’s 50-day moving average price is $74.36 and its 200-day moving average price is $57.79. The firm has a market capitalization of $17.45 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last posted its quarterly earnings data 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 return on equity of 44.00% and a net margin of 11.74%. During the same quarter in the previous year, the business posted $1.63 EPS. Sell-side analysts anticipate 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. Investors of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.66%. Tapestry’s payout ratio is 40.58%.

Institutional Trading of Tapestry

A number of hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. lifted its position in Tapestry by 7.5% during the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock valued at $20,381,000 after acquiring an additional 30,121 shares during the period. Apollon Wealth Management LLC bought a new position in shares of Tapestry during the fourth quarter valued at approximately $328,000. Assenagon Asset Management S.A. purchased a new position in shares of Tapestry during the third quarter valued at approximately $5,446,000. Valley Wealth Managers Inc. boosted its position in shares of Tapestry by 2.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock worth $19,971,000 after purchasing an additional 8,833 shares in the last quarter. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Tapestry in the 4th quarter worth approximately $3,437,000. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

TPR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Tuesday, February 18th. Evercore ISI upped their target price 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. Wells Fargo & Company raised their price target on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, UBS Group upped their price objective on Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

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.