Tapestry, Inc. (NYSE:TPR) CEO Todd Kahn Sells 7,786 Shares

Tapestry, Inc. (NYSE:TPR) CEO Todd Kahn sold 7,786 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the transaction, the chief executive officer now owns 201,531 shares of the company’s stock, valued at approximately $17,652,100.29. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Tapestry Stock Performance

Shares of NYSE TPR opened at $84.12 on Wednesday. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The stock has a 50 day moving average of $73.44 and a 200-day moving average of $57.40. 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 $17.41 billion, a P/E ratio of 24.38, a P/E/G ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating 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 prior year, the company earned $1.63 EPS. As a group, equities research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be issued 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 dividend payout ratio is currently 40.58%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. BMO Capital Markets increased their price objective on Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, November 18th. Guggenheim upped their price target on Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Daiwa America upgraded shares of Tapestry to a “hold” rating in a report on Monday, November 18th. Morgan Stanley restated an “equal weight” rating and set a $65.00 target price on shares of Tapestry in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lifted their price target 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. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $78.53.

Institutional Investors Weigh In On Tapestry

Several hedge funds have recently bought and sold shares of TPR. Greenline Partners LLC bought a new position in shares of Tapestry during the fourth quarter worth approximately $29,000. Coppell Advisory Solutions LLC grew its holdings in Tapestry by 40.7% in 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 in the last quarter. Venturi Wealth Management LLC grew its holdings in Tapestry by 78.0% in 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 in the last quarter. Brooklyn Investment Group bought a new position in Tapestry during the 3rd quarter worth $47,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Tapestry during the fourth quarter worth $48,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.