Insider Selling: Tapestry, Inc. (NYSE:TPR) CEO Sells $1,772,988.00 in 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 shares were sold at an average price of $84.00, for a total value of $1,772,988.00. Following the completion of the sale, the chief executive officer now owns 176,985 shares of the company’s stock, valued at $14,866,740. This represents a 10.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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 Up 1.3 %

TPR stock opened at $85.38 on Friday. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The stock has a market cap of $17.67 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58. The company has a fifty day moving average price of $74.79 and a two-hundred day moving average price of $58.12. 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) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm posted $1.63 EPS. Equities analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.64%. Tapestry’s payout ratio is presently 40.58%.

Analysts Set New Price Targets

A number of analysts recently weighed in on TPR shares. Raymond James reiterated an “outperform” rating and issued a $88.00 price target (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. JPMorgan Chase & Co. increased their target price on shares of Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Guggenheim boosted their price target on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 price objective on shares of Tapestry in a research note on Tuesday, January 21st. Finally, Telsey Advisory Group boosted their target price on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.53.

Institutional Trading of Tapestry

Hedge funds and other institutional investors have recently made changes to their positions in the company. Greenline Partners LLC acquired a new stake in shares of Tapestry in the fourth quarter valued at about $29,000. Coppell Advisory Solutions LLC lifted its holdings in Tapestry by 40.7% in the fourth 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. Venturi Wealth Management LLC raised its position in shares of Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after acquiring an additional 252 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Tapestry in the 3rd quarter valued at about $47,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in shares of Tapestry in the 4th quarter valued at about $48,000. 90.77% of the stock is currently owned by institutional investors.

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.