Tapestry, Inc. (NYSE:TPR) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. lessened its position in shares of Tapestry, Inc. (NYSE:TPR) by 6.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 298,082 shares of the luxury accessories retailer’s stock after selling 20,457 shares during the period. Dana Investment Advisors Inc.’s holdings in Tapestry were worth $19,474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPR. Arizona State Retirement System grew its holdings in shares of Tapestry by 2.1% during the 4th quarter. Arizona State Retirement System now owns 67,556 shares of the luxury accessories retailer’s stock worth $4,413,000 after purchasing an additional 1,394 shares during the period. Proficio Capital Partners LLC acquired a new position in Tapestry during the 4th quarter worth approximately $9,279,000. Assetmark Inc. raised its position in shares of Tapestry by 6.7% in the 4th quarter. Assetmark Inc. now owns 53,294 shares of the luxury accessories retailer’s stock valued at $3,482,000 after purchasing an additional 3,330 shares in the last quarter. Cookson Peirce & Co. Inc. raised its position in shares of Tapestry by 6.0% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 16,556 shares of the luxury accessories retailer’s stock valued at $1,082,000 after purchasing an additional 944 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Tapestry by 18.7% in the 4th quarter. Victory Capital Management Inc. now owns 515,095 shares of the luxury accessories retailer’s stock valued at $33,651,000 after purchasing an additional 81,270 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TPR shares. Robert W. Baird upped their price target on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. BMO Capital Markets raised their price target on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, November 18th. Daiwa America raised Tapestry to a “hold” rating in a report on Monday, November 18th. The Goldman Sachs Group lifted their target price on Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company lifted their target price on Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Six 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.53.

Tapestry Trading Down 0.2 %

Shares of NYSE TPR opened at $81.12 on Thursday. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The firm has a market capitalization of $16.79 billion, a PE ratio of 23.51, a PEG ratio of 2.01 and a beta of 1.58. 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 business has a 50-day moving average price of $75.49 and a two-hundred day moving average price of $59.01.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the firm posted $1.63 earnings per share. As a group, analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be given 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 yield of 1.73%. Tapestry’s payout ratio is presently 40.58%.

Insiders Place Their Bets

In other news, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. The trade was a 23.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the sale, the chief executive officer now owns 201,531 shares of the company’s stock, valued at approximately $17,652,100.29. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is currently owned by company insiders.

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.