Blueshift Asset Management LLC Sells 89,258 Shares of Tapestry, Inc. (NYSE:TPR)

Blueshift Asset Management LLC trimmed its stake in Tapestry, Inc. (NYSE:TPR) by 81.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,894 shares of the luxury accessories retailer’s stock after selling 89,258 shares during the quarter. Blueshift Asset Management LLC’s holdings in Tapestry were worth $1,365,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Apollon Wealth Management LLC bought a new position in shares of Tapestry in the fourth quarter valued at $328,000. Charles Schwab Investment Management Inc. grew its position in shares of Tapestry by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock valued at $522,471,000 after acquiring an additional 382,856 shares during the period. Decker Retirement Planning Inc. acquired a new position in shares of Tapestry during the 4th quarter worth about $3,437,000. Westfield Capital Management Co. LP raised its holdings in shares of Tapestry by 14.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after purchasing an additional 219,544 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Tapestry by 14.6% in the 4th quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer’s stock valued at $20,195,000 after purchasing an additional 39,298 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Robert W. Baird boosted their price target on Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 price target on shares of Tapestry in a report on Tuesday, January 21st. Jefferies Financial Group upped their price objective on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Evercore ISI raised their target price on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $78.53.

Tapestry Price Performance

Tapestry stock opened at $73.49 on Thursday. The stock’s fifty day moving average price is $76.97 and its two-hundred day moving average price is $61.37. The firm has a market cap of $15.21 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. 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, Inc. has a one year low of $35.23 and a one year high of $90.85.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the prior year, the company earned $1.63 earnings per share. As a group, research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, March 6th. Tapestry’s dividend payout ratio is presently 40.58%.

Insiders Place Their Bets

In other Tapestry news, CEO Todd Kahn sold 21,107 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the sale, the chief executive officer now owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $2,226,929.12. Following the transaction, the chief financial officer now owns 146,587 shares of the company’s stock, valued at $12,688,570.72. This trade represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is currently owned by corporate 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.