Sarah Dunn Sells 32,000 Shares of Tapestry Inc (NYSE:TPR) Stock

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Tapestry Inc (NYSE:TPR) insider Sarah Dunn sold 32,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $26.78, for a total value of $856,960.00. Following the completion of the sale, the insider now directly owns 62,131 shares in the company, valued at $1,663,868.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

TPR opened at $24.83 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.82 and a debt-to-equity ratio of 1.15. Tapestry Inc has a 52 week low of $18.54 and a 52 week high of $39.70. The stock has a market cap of $6.86 billion, a PE ratio of 9.66, a PEG ratio of 1.15 and a beta of 1.01. The business has a 50 day moving average of $26.32 and a 200-day moving average of $27.12.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Tuesday, November 5th. The luxury accessories retailer reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Tapestry had a return on equity of 21.17% and a net margin of 9.01%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share. Equities analysts anticipate that Tapestry Inc will post 2.51 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.338 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Thursday, December 5th. Tapestry’s dividend payout ratio (DPR) is presently 52.53%.

Large investors have recently added to or reduced their stakes in the company. St. Johns Investment Management Company LLC purchased a new position in Tapestry during the 3rd quarter valued at about $26,000. Bourgeon Capital Management LLC purchased a new stake in Tapestry in the third quarter worth about $26,000. NumerixS Investment Technologies Inc bought a new position in shares of Tapestry during the second quarter valued at approximately $50,000. Avestar Capital LLC increased its stake in shares of Tapestry by 34.5% during the second quarter. Avestar Capital LLC now owns 1,626 shares of the luxury accessories retailer’s stock valued at $51,000 after purchasing an additional 417 shares in the last quarter. Finally, CSat Investment Advisory L.P. increased its stake in shares of Tapestry by 106.7% during the second quarter. CSat Investment Advisory L.P. now owns 1,827 shares of the luxury accessories retailer’s stock valued at $58,000 after purchasing an additional 943 shares in the last quarter. 89.69% of the stock is currently owned by hedge funds and other institutional investors.

TPR has been the topic of a number of research analyst reports. Morgan Stanley reduced their price target on Tapestry from $37.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Barclays initiated coverage on Tapestry in a report on Tuesday, November 12th. They issued an “equal weight” rating and a $27.00 price objective for the company. Oppenheimer lowered Tapestry from an “outperform” rating to a “market perform” rating in a research report on Friday, August 16th. Cowen cut Tapestry from an “outperform” rating to a “market perform” rating and set a $22.00 target price on the stock. in a research note on Thursday, August 29th. Finally, Robert W. Baird set a $43.00 target price on Tapestry and gave the company a “buy” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.00.

About Tapestry

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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