Gallacher Capital Management LLC Sells 1,483 Shares of Tapestry, Inc. (NYSE:TPR)

Gallacher Capital Management LLC reduced its stake in Tapestry, Inc. (NYSE:TPR) by 30.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,460 shares of the luxury accessories retailer’s stock after selling 1,483 shares during the quarter. Gallacher Capital Management LLC’s holdings in Tapestry were worth $226,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in shares of Tapestry during the 3rd quarter worth about $237,000. Sumitomo Mitsui Trust Group Inc. raised its stake in Tapestry by 42.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,779 shares of the luxury accessories retailer’s stock worth $365,000 after purchasing an additional 2,326 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Tapestry by 7.5% in the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock valued at $20,381,000 after purchasing an additional 30,121 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Tapestry by 2.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 34,409 shares of the luxury accessories retailer’s stock worth $1,617,000 after purchasing an additional 932 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Tapestry by 14.5% in the third quarter. KBC Group NV now owns 6,199 shares of the luxury accessories retailer’s stock valued at $291,000 after buying an additional 785 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Price Performance

TPR stock opened at $70.48 on Monday. 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 stock has a market cap of $14.59 billion, a PE ratio of 20.43, a P/E/G ratio of 2.01 and a beta of 1.57. The company has a 50-day moving average price of $76.73 and a 200 day moving average price of $60.86.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping the consensus estimate 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 previous year, the business posted $1.63 earnings per share. Equities research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The firm 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 1.99%. Tapestry’s dividend payout ratio (DPR) is 40.58%.

Analysts Set New Price Targets

A number of brokerages recently commented on TPR. Guggenheim raised their price target on Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Robert W. Baird increased their price objective on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Tuesday, February 18th. Finally, Daiwa America raised shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

Insider Activity at Tapestry

In related news, CFO Scott A. Roe sold 25,727 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the transaction, the chief financial officer now owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. This represents a 14.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Kahn sold 21,107 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the transaction, the chief executive officer now owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. This trade represents a 10.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock valued at $5,730,589 in the last ninety days. Corporate insiders own 1.18% of the company’s stock.

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.