Tapestry, Inc. (NYSE:TPR) CFO Sells $2,226,929.12 in Stock

Tapestry, Inc. (NYSE:TPR) CFO Scott A. Roe sold 25,727 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the sale, the chief financial officer now owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Tapestry Stock Down 0.3 %

Tapestry stock opened at $84.12 on Wednesday. The firm has a 50 day moving average price of $73.44 and a two-hundred day moving average price of $57.40. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The firm has a market cap of $17.41 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping 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 company earned $1.63 earnings per share. Equities analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TPR shares. BMO Capital Markets increased their target price on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, November 18th. Telsey Advisory Group increased their price objective on shares of Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Tuesday, February 18th. Barclays upped their price target on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company raised their price objective on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.53.

Hedge Funds Weigh In On Tapestry

A number of institutional investors have recently modified their holdings of TPR. Blue Trust Inc. raised its position in Tapestry by 107.0% in the 3rd quarter. Blue Trust Inc. now owns 2,180 shares of the luxury accessories retailer’s stock valued at $93,000 after buying an additional 1,127 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Tapestry by 18.7% in the third quarter. Private Advisor Group LLC now owns 11,593 shares of the luxury accessories retailer’s stock valued at $545,000 after buying an additional 1,828 shares during the period. Assenagon Asset Management S.A. bought a new stake in Tapestry in the 3rd quarter valued at about $5,446,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Tapestry by 15.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 159,703 shares of the luxury accessories retailer’s stock valued at $7,656,000 after buying an additional 21,868 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of Tapestry during the 3rd quarter valued at approximately $217,000. 90.77% of the stock is owned by institutional investors and hedge funds.

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.