Tapestry, Inc. (NYSE:TPR) Shares Sold by Advisory Research Inc.

Advisory Research Inc. lowered its stake in Tapestry, Inc. (NYSE:TPR) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,007 shares of the luxury accessories retailer’s stock after selling 2,478 shares during the period. Tapestry comprises 2.6% of Advisory Research Inc.’s investment portfolio, making the stock its 9th biggest position. Advisory Research Inc. owned approximately 0.10% of Tapestry worth $15,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC increased its stake in Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after purchasing an additional 252 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in Tapestry during the 4th quarter worth approximately $48,000. UMB Bank n.a. grew its position in shares of 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 acquiring an additional 496 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in Tapestry by 1,792.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer’s stock valued at $78,000 after purchasing an additional 1,129 shares during the period. Finally, Atlas Capital Advisors Inc. raised its stake in Tapestry by 527.2% during the 4th quarter. Atlas Capital Advisors Inc. now owns 1,267 shares of the luxury accessories retailer’s stock valued at $83,000 after acquiring an additional 1,065 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TPR shares. Telsey Advisory Group increased their price target on shares of Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Barclays decreased their price target on Tapestry from $100.00 to $83.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Evercore ISI increased their price objective on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Wells Fargo & Company boosted their target price on shares of Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James reiterated an “outperform” rating and issued a $88.00 price target (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and an average price target of $77.63.

Insiders Place Their Bets

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Todd Kahn sold 21,107 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,537 shares of company stock valued at $5,730,589. Insiders own 1.18% of the company’s stock.

Tapestry Price Performance

NYSE:TPR opened at $62.85 on Thursday. The firm has a market cap of $13.01 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The company’s 50-day moving average is $74.91 and its two-hundred day moving average is $64.91.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping 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 last year, the company earned $1.63 EPS. Research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 2.23%. Tapestry’s payout ratio is currently 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.