Tapestry, Inc. (NYSE:TPR) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,025 shares of the luxury accessories retailer’s stock after selling 243 shares during the period. M&T Bank Corp’s holdings in Tapestry were worth $2,484,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TPR. Venturi Wealth Management LLC increased its position in Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after purchasing an additional 252 shares during the last quarter. Brooklyn Investment Group acquired a new position in Tapestry during the third quarter worth approximately $47,000. Transamerica Financial Advisors Inc. increased its position in Tapestry by 159,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after purchasing an additional 1,591 shares during the last quarter. UMB Bank n.a. grew its stake in Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after buying an additional 496 shares during the period. Finally, True Wealth Design LLC purchased a new stake in Tapestry during the third quarter worth approximately $83,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Trading Down 3.5 %

NYSE TPR opened at $75.00 on Friday. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. The company’s fifty day moving average price is $76.22 and its two-hundred day moving average price is $59.67.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating analysts’ consensus estimates 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 posted $1.63 EPS. As a group, research analysts predict that Tapestry, Inc. will post 4.91 earnings per share 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 issued a dividend of $0.35 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.87%. Tapestry’s dividend payout ratio (DPR) is 40.58%.

Insiders Place Their Bets

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction on 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 sale, the general counsel now directly owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the 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 sale, the chief financial officer now directly owns 146,587 shares in the company, 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 three months, insiders have sold 66,537 shares of company stock valued at $5,730,589. Company insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the subject of several research reports. Telsey Advisory Group boosted their price objective on shares of Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. UBS Group boosted their price objective on shares of Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Redburn Atlantic upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Tuesday, February 18th. Raymond James reiterated an “outperform” rating and set a $88.00 price objective (up from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Finally, Barclays boosted their price objective on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.