Tapestry, Inc. (NYSE:TPR) CFO Scott A. Roe Sells 25,727 Shares

Tapestry, Inc. (NYSE:TPR) CFO Scott A. Roe sold 25,727 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the completion of the sale, the chief financial officer now directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. This represents a 14.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Tapestry Trading Down 0.4 %

NYSE:TPR opened at $84.29 on Tuesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The firm has a 50-day simple moving average of $73.04 and a 200-day simple moving average of $57.08. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The firm has a market cap of $17.45 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.01 and a beta of 1.58.

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

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be given a dividend of $0.35 per share. 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 currently 40.58%.

Hedge Funds Weigh In On Tapestry

A number of large investors have recently added to or reduced their stakes in the company. Greenline Partners LLC bought a new stake in shares of Tapestry in the 4th quarter valued at about $29,000. Coppell Advisory Solutions LLC lifted its position in Tapestry by 40.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after acquiring an additional 252 shares in the last quarter. Brooklyn Investment Group purchased a new position in Tapestry in the third quarter worth $47,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in shares of Tapestry during the fourth quarter worth $48,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TPR has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price target on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Jefferies Financial Group upped their target price on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday. Raymond James reaffirmed an “outperform” rating and issued a $88.00 price objective (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $65.00 target price on shares of Tapestry in a research note on Tuesday, January 21st. Six investment 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.

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.