Tapestry, Inc. (NYSE:TPR) CEO Sells $1,772,988.00 in Stock

Tapestry, Inc. (NYSE:TPR) CEO Todd Kahn sold 21,107 shares of the company’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 completion of the sale, the chief executive officer now owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. This represents a 10.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, February 21st, Todd Kahn sold 7,786 shares of Tapestry stock. The stock was sold at an average price of $87.59, for a total value of $681,975.74.

Tapestry Trading Up 2.9 %

Shares of Tapestry stock traded up $2.40 on Wednesday, hitting $86.43. The stock had a trading volume of 4,475,180 shares, compared to its average volume of 5,131,540. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The stock’s 50-day simple moving average is $73.44 and its two-hundred day simple moving average is $57.40. The stock has a market cap of $17.89 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 2.01 and a beta of 1.58. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping 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 period last year, the firm posted $1.63 earnings per share. As a group, sell-side analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.62%. Tapestry’s dividend payout ratio is currently 40.58%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TPR. Daiwa America upgraded shares of Tapestry to a “hold” rating in a report on Monday, November 18th. BMO Capital Markets raised their price objective on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, November 18th. Raymond James reiterated an “outperform” rating and set a $88.00 target price (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th. Jefferies Financial Group raised their price target on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, Robert W. Baird raised their target price on shares of Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.53.

Institutional Trading of Tapestry

Several institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Tapestry by 4.8% during the 4th quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer’s stock valued at $527,799,000 after purchasing an additional 370,784 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 valued at $522,471,000 after buying an additional 382,856 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Tapestry by 1.0% in the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock worth $285,580,000 after buying an additional 58,135 shares in the last quarter. Geode Capital Management LLC raised its position in Tapestry by 3.2% in 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. Finally, Alliancebernstein L.P. lifted 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 valued at $270,304,000 after acquiring an additional 546,497 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.