Signaturefd LLC Cuts Holdings in Tapestry, Inc. (NYSE:TPR)

Signaturefd LLC lessened its stake in Tapestry, Inc. (NYSE:TPR) by 16.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,106 shares of the luxury accessories retailer’s stock after selling 416 shares during the quarter. Signaturefd LLC’s holdings in Tapestry were worth $138,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Apollon Wealth Management LLC purchased a new position in Tapestry in the fourth quarter valued at $328,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Tapestry by 5.0% in the 4th 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 acquiring an additional 382,856 shares during the last quarter. Decker Retirement Planning Inc. purchased a new position in shares of Tapestry in the 4th quarter valued at about $3,437,000. Westfield Capital Management Co. LP raised its position in shares of Tapestry by 14.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after acquiring an additional 219,544 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Tapestry by 14.6% during the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer’s stock worth $20,195,000 after purchasing an additional 39,298 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Todd Kahn sold 7,786 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through 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 completion of the sale, the general counsel now owns 38,609 shares of the company’s stock, valued at $3,397,592. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock valued at $5,730,589 over the last quarter. Company insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

TPR has been the topic of a number of research analyst reports. UBS Group raised their price objective on shares of Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Guggenheim boosted their price target on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a research report 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. Telsey Advisory Group lifted their target price on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Barclays upped their target price on Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.53.

Tapestry Stock Up 0.1 %

Shares of Tapestry stock opened at $72.99 on Monday. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The company has a market cap of $15.11 billion, a P/E 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 quick ratio of 1.05 and a current ratio of 1.58. The firm has a fifty day moving average of $77.17 and a two-hundred day moving average of $61.96.

Tapestry (NYSE:TPR) last posted 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 net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the previous year, the company earned $1.63 earnings per share. On average, analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.92%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

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.