By otakuyassine3@gmail.com 
Blair William & Co. IL trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR – Free Report) by 13.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,165 shares of the luxury accessories retailer’s stock after selling 825 shares during the quarter. Blair William & Co. IL’s holdings in Tapestry were worth $337,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Checchi Capital Advisers LLC increased its holdings in shares of Tapestry by 1.9% during the fourth quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer’s stock worth $580,000 after purchasing an additional 163 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Tapestry by 0.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock worth $1,261,000 after buying an additional 170 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Tapestry by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock worth $104,000 after acquiring an additional 182 shares during the period. E Fund Management Co. Ltd. raised its holdings in Tapestry by 1.6% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer’s stock valued at $833,000 after acquiring an additional 200 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its position in shares of Tapestry by 0.5% during the 4th quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer’s stock valued at $2,831,000 after acquiring an additional 202 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.
Analysts Set New Price Targets
TPR has been the subject of a number of analyst reports. Robert W. Baird boosted their price target on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Jefferies Financial Group boosted their target price on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Barclays increased their price target on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Morgan Stanley reissued an “equal weight” rating and issued a $65.00 price objective on shares of Tapestry in a research note on Tuesday, January 21st. Finally, Guggenheim raised their target price on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.53.
View Our Latest Stock Report on Tapestry
Insider Activity at Tapestry
In related news, General Counsel David E. Howard sold 11,917 shares of the business’s 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 transaction, the general counsel now owns 38,609 shares in the company, valued at $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Kahn sold 21,107 shares of the 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 sale, the chief executive officer now owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock worth $5,730,589 over the last ninety days. Insiders own 1.18% of the company’s stock.
Tapestry Trading Down 3.6 %
TPR opened at $62.78 on Friday. The company’s 50 day moving average price is $77.22 and its two-hundred day moving average price is $63.87. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. 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 (NYSE:TPR – Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping 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 previous year, the business earned $1.63 EPS. As a group, research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.
Tapestry Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Thursday, March 6th. Tapestry’s dividend payout ratio is currently 40.58%.
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.
Further Reading
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