Tapestry, Inc. (NYSE:TPR) CEO Todd Kahn Sells 21,107 Shares of Stock

Tapestry, Inc. (NYSE:TPR) 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 completion of the sale, the chief executive officer now directly owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. This trade represents a 10.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Todd Kahn also recently made the following trade(s):

• On Friday, February 21st, Todd Kahn sold 7,786 shares of Tapestry stock. The stock was sold at an average price of $87.59, for a total transaction of $681,975.74.

Tapestry Price Performance

Tapestry stock opened at $86.43 on Thursday. The firm has a market capitalization of $17.89 billion, a PE ratio of 25.05, a P/E/G ratio of 2.01 and a beta of 1.58. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. The firm’s 50-day simple moving average is $73.93 and its 200 day simple moving average is $57.61. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $1.63 EPS. On average, equities research analysts predict 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. Shareholders of record on Thursday, March 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.62%. The ex-dividend date is Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

Wall Street Analyst Weigh In

TPR has been the subject of several analyst reports. Robert W. Baird upped their price target on Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group raised their target price on shares of Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. UBS Group lifted their target price on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a report on Tuesday, February 18th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $88.00 price objective (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.53.

Hedge Funds Weigh In On Tapestry

A number of institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its position in Tapestry by 4.8% during the 4th quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer’s stock worth $527,799,000 after purchasing an additional 370,784 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tapestry by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock worth $522,471,000 after buying an additional 382,856 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Tapestry by 1.0% during the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock valued at $285,580,000 after buying an additional 58,135 shares during the period. Geode Capital Management LLC lifted its stake in shares of Tapestry by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer’s stock valued at $376,247,000 after buying an additional 176,717 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Tapestry by 15.2% during the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer’s stock worth $270,304,000 after acquiring an additional 546,497 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

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.