Tapestry, Inc. (NYSE:TPR) General Counsel David E. Howard Sells 11,917 Shares

Tapestry, Inc. (NYSE:TPR) General Counsel David E. Howard sold 11,917 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the transaction, the general counsel now owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This represents a 23.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Tapestry Price Performance

Shares of NYSE TPR opened at $84.60 on Friday. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year 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. The business’s fifty day moving average price is $72.63 and its two-hundred day moving average price is $56.48. The firm has a market capitalization of $17.51 billion, a PE ratio of 24.52, a P/E/G ratio of 2.07 and a beta of 1.58.

Tapestry (NYSE:TPR) last issued its earnings results 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 return on equity of 44.00% and a net margin of 11.74%. During the same period last year, the firm earned $1.63 EPS. On average, research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

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 given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio is presently 40.58%.

Institutional Investors Weigh In On Tapestry

Large investors have recently added to or reduced their stakes in the stock. Bleakley Financial Group LLC bought a new stake in shares of Tapestry during the third quarter valued at about $220,000. Blue Trust Inc. raised its stake in shares of Tapestry by 107.0% during the third quarter. Blue Trust Inc. now owns 2,180 shares of the luxury accessories retailer’s stock valued at $93,000 after purchasing an additional 1,127 shares in the last quarter. Waldron Private Wealth LLC bought a new stake in shares of Tapestry during the third quarter valued at about $25,000. Private Advisor Group LLC raised its stake in shares of Tapestry by 18.7% during the third quarter. Private Advisor Group LLC now owns 11,593 shares of the luxury accessories retailer’s stock valued at $545,000 after purchasing an additional 1,828 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in shares of Tapestry during the third quarter valued at about $1,552,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. TD Cowen cut Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a report on Tuesday, October 29th. Bank of America increased their target price on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Redburn Atlantic upgraded Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Tuesday. Citigroup increased their target price on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, UBS Group increased their target price on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

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.