Todd Kahn Sells 21,107 Shares of Tapestry, Inc. (NYSE:TPR) Stock

Tapestry, Inc. (NYSE:TPR) 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 value of $1,772,988.00. Following the sale, the chief executive officer now directly owns 176,985 shares of the company’s stock, valued at $14,866,740. This represents a 10.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 Stock Performance

Shares of NYSE TPR opened at $85.38 on Friday. The firm’s 50-day moving average price is $74.79 and its 200-day moving average price is $58.12. 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 company has a market cap of $17.67 billion, a PE ratio of 24.75, a PEG ratio of 2.01 and a beta of 1.58. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (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 firm posted $1.63 EPS. As a group, analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The firm also recently disclosed 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. This represents a $1.40 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Hedge Funds Weigh In On Tapestry

Several institutional investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Tapestry in the 4th quarter worth approximately $15,001,000. Jefferies Financial Group Inc. bought a new stake in Tapestry during the 4th quarter worth approximately $562,000. B. Riley Wealth Advisors Inc. bought a new stake in Tapestry during the 4th quarter worth approximately $231,000. American Trust bought a new stake in Tapestry during the 4th quarter worth approximately $253,000. Finally, Forum Financial Management LP bought a new stake in Tapestry during the 4th quarter worth approximately $333,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, November 18th. JPMorgan Chase & Co. upped their price objective on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Jefferies Financial Group upped their price objective on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group upped their price objective on Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Daiwa America upgraded Tapestry to a “hold” rating in a research note on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average 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.