Tapestry, Inc. (NYSE:TPR) Shares Sold by Advisory Research Inc.

Advisory Research Inc. decreased its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 239,007 shares of the luxury accessories retailer’s stock after selling 2,478 shares during the quarter. Tapestry comprises approximately 2.6% of Advisory Research Inc.’s holdings, making the stock its 9th biggest holding. Advisory Research Inc.’s holdings in Tapestry were worth $15,614,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in shares of Tapestry by 348.5% in the fourth quarter. NewEdge Advisors LLC now owns 71,998 shares of the luxury accessories retailer’s stock worth $4,704,000 after buying an additional 55,945 shares during the period. Ceredex Value Advisors LLC purchased a new position in Tapestry in the 4th quarter worth approximately $21,007,000. Bridgewater Associates LP grew its position in Tapestry by 77.8% in the fourth quarter. Bridgewater Associates LP now owns 867,389 shares of the luxury accessories retailer’s stock valued at $56,667,000 after acquiring an additional 379,613 shares in the last quarter. Portolan Capital Management LLC purchased a new stake in shares of Tapestry during the fourth quarter valued at approximately $12,929,000. 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 owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tapestry

In related news, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the transaction, the chief financial officer now owns 146,587 shares in the company, valued at $12,688,570.72. This represents a 14.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares in the company, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is owned by company insiders.

Tapestry Trading Down 1.7 %

Shares of NYSE TPR opened at $62.85 on Thursday. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The company has a market cap of $13.01 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. 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 stock’s 50 day simple moving average is $74.91 and its 200 day simple moving average is $64.91.

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

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is 40.58%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Barclays cut their price target on Tapestry from $100.00 to $83.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company raised 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. Guggenheim upped their target price on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $65.00 price target on shares of Tapestry in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.63.

About Tapestry

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.