Tapestry, Inc. (NYSE:TPR) CEO Sells $681,975.74 in Stock

Tapestry, Inc. (NYSE:TPR) CEO Todd Kahn sold 7,786 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the sale, the chief executive officer now directly owns 201,531 shares of the company’s stock, valued at $17,652,100.29. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Todd Kahn also recently made the following trade(s):

• On Tuesday, February 25th, Todd Kahn sold 21,107 shares of Tapestry stock. The shares were sold at an average price of $84.00, for a total transaction of $1,772,988.00.

Tapestry Trading Up 2.9 %

Shares of NYSE:TPR opened at $86.43 on Thursday. 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 has a market capitalization of $17.89 billion, a PE ratio of 25.05, a P/E/G ratio of 2.01 and a beta of 1.58. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The firm has a fifty day moving average price of $73.93 and a 200 day moving average price of $57.61.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) 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 quarter in the prior year, the firm posted $1.63 earnings per share. Analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.62%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Hedge Funds Weigh In On Tapestry

A number of institutional investors have recently modified their holdings of the company. Greenline Partners LLC acquired a new position in Tapestry in the 4th quarter valued at $29,000. Coppell Advisory Solutions LLC boosted its holdings 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 period. Venturi Wealth Management LLC boosted its holdings in Tapestry by 78.0% during 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 during the period. Brooklyn Investment Group acquired a new stake in shares of Tapestry in the third quarter valued at about $47,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Tapestry in the fourth quarter worth about $48,000. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on TPR shares. Evercore ISI lifted their price objective on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. BMO Capital Markets lifted their price target on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, November 18th. Telsey Advisory Group increased their price objective on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Barclays lifted their target price on Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group upped their target price on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

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.