Insider Selling: Tapestry Inc (TPR) Director Sells 6,185 Shares of Stock

Tapestry Inc (NYSE:TPR) Director Susan J. Kropf sold 6,185 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $50.80, for a total value of $314,198.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of Tapestry Inc (TPR) traded down $0.50 during mid-day trading on Wednesday, reaching $52.48. The company had a trading volume of 1,715,910 shares, compared to its average volume of 2,836,078. The stock has a market capitalization of $14,944.93, a PE ratio of 46.88, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. Tapestry Inc has a 12 month low of $37.92 and a 12 month high of $53.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.51 and a current ratio of 1.90.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.21. Tapestry had a return on equity of 23.68% and a net margin of 6.14%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. equities research analysts predict that Tapestry Inc will post 2.58 earnings per share for the current year.

The business also recently announced a dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be issued a $0.3375 dividend. The ex-dividend date of this dividend is Thursday, March 8th. Tapestry’s dividend payout ratio (DPR) is 120.54%.

A number of institutional investors have recently added to or reduced their stakes in the business. New Mexico Educational Retirement Board boosted its holdings in Tapestry by 4.2% in the fourth quarter. New Mexico Educational Retirement Board now owns 27,198 shares of the luxury accessories retailer’s stock worth $1,203,000 after acquiring an additional 1,100 shares in the last quarter. Hexavest Inc. bought a new position in shares of Tapestry during the fourth quarter valued at $106,000. First Dallas Securities Inc. bought a new position in shares of Tapestry during the fourth quarter valued at $108,000. Dupont Capital Management Corp bought a new position in shares of Tapestry during the fourth quarter valued at $110,000. Finally, Cerebellum GP LLC bought a new position in Tapestry in the fourth quarter valued at about $118,000. 89.28% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have weighed in on TPR. William Blair reiterated an “outperform” rating on shares of Tapestry in a research report on Tuesday, February 6th. Piper Jaffray Companies set a $48.00 price objective on Tapestry and gave the company a “hold” rating in a research report on Monday, February 5th. Barclays boosted their price objective on Tapestry from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Credit Suisse Group began coverage on Tapestry in a research report on Monday. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, Zacks Investment Research upgraded Tapestry from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Tapestry currently has an average rating of “Buy” and an average target price of $50.75.

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About Tapestry

Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.

Insider Buying and Selling by Quarter for Tapestry (NYSE:TPR)

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