Tapestry, Inc. (NYSE:TPR) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 7.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,461,321 shares of the luxury accessories retailer’s stock after selling 2,416,042 shares during the quarter. Vanguard Group Inc. owned 12.21% of Tapestry worth $1,859,378,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Apollon Wealth Management LLC purchased a new position in shares of Tapestry in the 4th quarter valued at $328,000. Charles Schwab Investment Management Inc. raised its position in Tapestry by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock valued at $522,471,000 after purchasing an additional 382,856 shares during the period. Decker Retirement Planning Inc. acquired a new position in shares of Tapestry during the fourth quarter worth about $3,437,000. Principal Financial Group Inc. boosted its position in shares of Tapestry by 14.6% in the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer’s stock worth $20,195,000 after buying an additional 39,298 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Tapestry by 10.6% in the third quarter. Franklin Resources Inc. now owns 163,234 shares of the luxury accessories retailer’s stock valued at $7,442,000 after buying an additional 15,585 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the transaction, the chief executive officer now owns 201,531 shares in the company, valued at approximately $17,652,100.29. This represents a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the sale, the general counsel now directly owns 38,609 shares in the company, valued at approximately $3,397,592. This trade represents a 23.59 % 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 over the last three months. Company insiders own 1.18% of the company’s stock.

Tapestry Trading Down 1.4 %

Tapestry stock opened at $73.70 on Thursday. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The firm’s 50-day moving average is $77.61 and its 200-day moving average is $62.52. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The company has a market cap of $15.26 billion, a P/E ratio of 21.36, a PEG ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 previous year, the company earned $1.63 EPS. On average, equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.90%. Tapestry’s payout ratio is currently 40.58%.

Analyst Ratings Changes

TPR has been the topic of several recent research reports. Redburn Atlantic raised Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Tuesday, February 18th. UBS Group upped their target price on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Jefferies Financial Group raised their price target on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 target price on shares of Tapestry in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $78.53.

Tapestry 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.