Tapestry, Inc. (NYSE:TPR) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its stake in Tapestry, Inc. (NYSE:TPR) by 12.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,040,124 shares of the luxury accessories retailer’s stock after selling 420,047 shares during the period. Dimensional Fund Advisors LP’s holdings in Tapestry were worth $198,626,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TPR. Charles Schwab Investment Management Inc. grew its holdings in shares of Tapestry by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock worth $522,471,000 after purchasing an additional 382,856 shares during the last quarter. Geode Capital Management LLC grew its stake in Tapestry by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer’s stock worth $376,247,000 after buying an additional 176,717 shares during the last quarter. Alliancebernstein L.P. grew its stake in Tapestry by 15.2% during the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer’s stock worth $270,304,000 after buying an additional 546,497 shares during the last quarter. Allianz Asset Management GmbH increased its position in Tapestry by 16.4% during the fourth quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer’s stock worth $138,596,000 after buying an additional 298,409 shares during the period. Finally, Norges Bank purchased a new stake in Tapestry in the fourth quarter valued at approximately $114,199,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tapestry

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the completion of the transaction, the chief financial officer now owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel David E. Howard sold 11,917 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares in the company, valued at $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock valued at $5,730,589 over the last quarter. Corporate insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the topic of a number of research reports. Barclays lowered their target price on shares of Tapestry from $100.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. UBS Group lifted their price objective on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Citigroup lowered their price target on Tapestry from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company upped their price objective on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. 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 research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $78.26.

Tapestry Stock Performance

TPR opened at $64.89 on Wednesday. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $90.85. The stock has a market cap of $13.43 billion, a P/E ratio of 18.81, a P/E/G ratio of 2.01 and a beta of 1.37. The stock’s 50 day simple moving average is $73.37 and its 200 day simple moving average is $65.52. 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 posted its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating 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 business earned $1.63 EPS. As a group, equities analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry’s payout ratio is currently 40.58%.

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.