Tapestry, Inc. (NYSE:TPR) Shares Sold by Fiera Capital Corp

Fiera Capital Corp decreased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,363,053 shares of the luxury accessories retailer’s stock after selling 32,480 shares during the quarter. Fiera Capital Corp owned about 0.58% of Tapestry worth $89,048,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its holdings in shares of Tapestry by 102.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,680 shares of the luxury accessories retailer’s stock worth $831,000 after acquiring an additional 8,958 shares during the period. Swedbank AB raised its stake in Tapestry by 9.2% during the third quarter. Swedbank AB now owns 1,092,260 shares of the luxury accessories retailer’s stock worth $51,314,000 after purchasing an additional 92,458 shares during the period. Vontobel Holding Ltd. raised its stake in Tapestry by 4.4% during the third quarter. Vontobel Holding Ltd. now owns 18,646 shares of the luxury accessories retailer’s stock worth $876,000 after purchasing an additional 789 shares during the period. Bleakley Financial Group LLC acquired a new position in Tapestry in the 3rd quarter valued at about $220,000. Finally, Secure Asset Management LLC grew its stake in shares of Tapestry by 20.5% in the 3rd quarter. Secure Asset Management LLC now owns 36,892 shares of the luxury accessories retailer’s stock valued at $1,733,000 after buying an additional 6,282 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on TPR shares. Evercore ISI lifted their price target on shares of Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Wells Fargo & Company lifted their target price on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Citigroup increased their price target on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Robert W. Baird boosted their price objective on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.78.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, the vice president now owns 35,003 shares in the company, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.18% of the company’s stock.

Tapestry Stock Performance

Shares of TPR stock opened at $85.15 on Thursday. The firm has a 50 day moving average of $69.14 and a two-hundred day moving average of $54.23. The stock has a market capitalization of $19.84 billion, a PE ratio of 24.68, a P/E/G ratio of 2.30 and a beta of 1.58. The company has a quick ratio of 4.38, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $87.87.

Tapestry (NYSE:TPR) last released its 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 return on equity of 44.00% and a net margin of 11.74%. During the same period last year, the firm earned $1.63 earnings per share. On average, research analysts predict that Tapestry, Inc. will post 4.7 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Thursday, March 6th. Tapestry’s dividend payout ratio 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.