Tapestry, Inc. (NYSE:TPR) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC decreased its stake in Tapestry, Inc. (NYSE:TPR) by 7.2% during the 4th quarter, Holdings Channel reports. The firm owned 4,731 shares of the luxury accessories retailer’s stock after selling 369 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Tapestry were worth $309,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Counterpoint Mutual Funds LLC acquired a new stake in shares of Tapestry in the fourth quarter valued at about $477,000. Cibc World Markets Corp grew its position in shares of Tapestry by 46.8% in the fourth quarter. Cibc World Markets Corp now owns 26,222 shares of the luxury accessories retailer’s stock valued at $1,713,000 after purchasing an additional 8,360 shares during the period. Corient Private Wealth LLC grew its position in shares of Tapestry by 43.3% in the fourth quarter. Corient Private Wealth LLC now owns 38,893 shares of the luxury accessories retailer’s stock valued at $2,541,000 after purchasing an additional 11,754 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Tapestry by 21.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,913 shares of the luxury accessories retailer’s stock valued at $1,040,000 after purchasing an additional 2,855 shares during the period. Finally, Monimus Capital Management LP acquired a new position in Tapestry during the fourth quarter worth about $3,216,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Trading Up 0.1 %

TPR opened at $72.99 on Friday. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The stock has a market capitalization of $15.11 billion, a price-to-earnings ratio of 21.16, a PEG 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. The business has a fifty day moving average price of $77.17 and a 200 day moving average price of $61.81.

Tapestry (NYSE:TPR) last released its quarterly earnings data 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 previous year, the company posted $1.63 earnings per share. Sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, March 6th. Tapestry’s payout ratio is currently 40.58%.

Insider Activity

In other Tapestry news, CEO Todd Kahn sold 21,107 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the transaction, the chief executive officer now owns 176,985 shares in the company, valued at approximately $14,866,740. The trade was a 10.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the transaction, the general counsel now owns 38,609 shares in the company, valued at $3,397,592. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,537 shares of company stock valued at $5,730,589. Insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Robert W. Baird boosted their price target on shares of Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. The Goldman Sachs Group boosted their price target on shares of Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Guggenheim boosted their price target on shares of Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. boosted their price target on shares of Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Telsey Advisory Group boosted their price target on shares of Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Six equities research 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 a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

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.