Insider Selling: Tapestry, Inc. (NYSE:TPR) CFO Sells 25,727 Shares of Stock

Tapestry, Inc. (NYSE:TPR) CFO Scott A. Roe sold 25,727 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the sale, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Tapestry Stock Down 0.4 %

NYSE TPR traded down $0.30 during trading hours on Monday, reaching $84.29. 5,740,815 shares of the company’s stock traded hands, compared to its average volume of 5,118,729. The firm has a market cap of $17.45 billion, a PE ratio of 24.43, a PEG ratio of 2.01 and a beta of 1.58. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The firm has a 50-day simple moving average of $72.63 and a 200 day simple moving average of $56.75.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping 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 in the previous year, the company posted $1.63 EPS. Sell-side analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be issued 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 dividend yield of 1.66%. Tapestry’s payout ratio is presently 40.58%.

Hedge Funds Weigh In On Tapestry

Large investors have recently modified their holdings of the stock. American Trust bought a new stake in Tapestry during the 4th quarter valued at about $253,000. Forum Financial Management LP bought a new position in shares of Tapestry during the fourth quarter valued at $333,000. Michels Family Financial LLC purchased a new stake in shares of Tapestry during the fourth quarter valued at $948,000. Vise Technologies Inc. bought a new stake in Tapestry in the 4th quarter worth about $215,000. Finally, Focus Partners Advisor Solutions LLC purchased a new position in Tapestry in the 4th quarter worth about $212,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Daiwa America upgraded Tapestry to a “hold” rating in a research report on Monday, November 18th. Morgan Stanley reissued an “equal weight” rating and set a $65.00 price target on shares of Tapestry in a research report on Tuesday, January 21st. Raymond James reissued 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. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Finally, The Goldman Sachs Group raised their target price on Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average target price 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.