Tapestry (NYSE:TPR) Insider Sells 11,244 Shares of Company Stock

Tapestry, Inc. (NYSE:TPR) insider Denise Kulikowsky sold 11,244 shares of Tapestry stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $135.04, for a total transaction of $1,518,389.76. Following the completion of the transaction, the insider directly owned 15,721 shares in the company, valued at approximately $2,122,963.84. The trade was a 41.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Denise Kulikowsky also recently made the following trade(s):

• On Wednesday, September 9th, Denise Kulikowsky sold 5,810 shares of Tapestry stock. The shares were sold at an average price of $115.38, for a total transaction of $670,357.80.

Tapestry Stock Down 0.3%

Shares of TPR stock traded down $0.37 during trading hours on Tuesday, hitting $135.70. 2,517,527 shares of the company were exchanged, compared to its average volume of 2,610,306. The business has a 50 day moving average of $117.62 and a two-hundred day moving average of $136.97. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. Tapestry, Inc. has a 52 week low of $99.00 and a 52 week high of $164.80. The company has a market capitalization of $27.06 billion, a PE ratio of 17.46, a PEG ratio of 1.58 and a beta of 1.44.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, November 5th. The luxury accessories retailer reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $1.38 earnings per share. Analysts anticipate that Tapestry, Inc. will post 8.29 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Friday, December 4th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, December 4th. Tapestry’s dividend payout ratio is 23.81%.

Institutional Trading of Tapestry

A number of institutional investors have recently made changes to their positions in TPR. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Tapestry in the second quarter valued at $43,929,000. Tidal Investments LLC lifted its position in Tapestry by 14.7% during the 2nd quarter. Tidal Investments LLC now owns 67,741 shares of the luxury accessories retailer’s stock worth $9,916,000 after buying an additional 8,656 shares in the last quarter. Raiffeisen Bank International AG lifted its position in Tapestry by 13,153.1% during the 2nd quarter. Raiffeisen Bank International AG now owns 23,193 shares of the luxury accessories retailer’s stock worth $3,399,000 after buying an additional 23,018 shares in the last quarter. SEB Asset Management AB bought a new stake in Tapestry during the 1st quarter worth about $59,525,000. Finally, BlackRock Inc. acquired a new position in shares of Tapestry during the 2nd quarter worth about $2,610,995,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the topic of several recent research reports. Cantor Fitzgerald started coverage on Tapestry in a research note on Tuesday. They issued an “overweight” rating and a $159.00 price target on the stock. Wall Street Zen cut Tapestry from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. BNP Paribas Exane increased their price objective on Tapestry from $185.00 to $187.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Wells Fargo & Company increased their price objective on Tapestry from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Zacks Research lowered Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $167.26.

About Tapestry

Tapestry, Inc. is a global fashion company whose portfolio includes Coach and Kate Spade New York. The company designs and sells handbags, accessories, footwear, apparel, jewelry and other lifestyle products through retail stores, e-commerce and wholesale partners. Based in New York, Tapestry serves customers in North America and international markets, including Asia and Europe. Its brands reach consumers through company-operated stores and digital channels as well as select department stores and other retail partners.