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

Tapestry, Inc. (NYSE:TPR) CEO Todd Kahn sold 7,786 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the transaction, the chief executive officer now owns 201,531 shares in the company, valued at $17,652,100.29. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

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

Tapestry Trading Up 2.9 %

Tapestry stock opened at $86.43 on Thursday. 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 stock has a market capitalization of $17.89 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58. The firm has a 50 day simple moving average of $73.93 and a 200-day simple moving average of $57.61.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business earned $1.63 earnings per share. As a group, equities research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid 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 is currently 40.58%.

Analyst Ratings Changes

TPR has been the subject of a number of recent research reports. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Tuesday, February 18th. Guggenheim upped their target price on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. The Goldman Sachs Group increased their price target on Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Daiwa America upgraded Tapestry to a “hold” rating in a research report on Monday, November 18th. Finally, StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and an average target price of $78.53.

Institutional Investors Weigh In On Tapestry

Several hedge funds and other institutional investors have recently bought and sold shares of TPR. Southpoint Capital Advisors LP bought a new position in shares of Tapestry during the 4th quarter valued at about $130,660,000. Price T Rowe Associates Inc. MD boosted its holdings in Tapestry by 593.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer’s stock worth $143,198,000 after buying an additional 1,875,753 shares in the last quarter. Norges Bank acquired a new position in Tapestry in the fourth quarter worth approximately $114,199,000. Point72 Asset Management L.P. bought a new position in shares of Tapestry in the fourth quarter valued at $101,433,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of Tapestry during the 3rd quarter valued at $64,016,000. 90.77% of the stock is currently owned by institutional investors.

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.