Tapestry, Inc. (NYSE:TPR) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lessened its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 93.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,942 shares of the luxury accessories retailer's stock after selling 40,621 shares during the period. AlphaQuest LLC's holdings in Tapestry were worth $192,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of TPR. GSA Capital Partners LLP acquired a new position in shares of Tapestry during the 3rd quarter valued at $237,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Tapestry by 42.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,779 shares of the luxury accessories retailer's stock valued at $365,000 after purchasing an additional 2,326 shares during the period. Victory Capital Management Inc. boosted its position in shares of Tapestry by 7.5% during the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer's stock worth $20,381,000 after purchasing an additional 30,121 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Tapestry by 2.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 34,409 shares of the luxury accessories retailer's stock valued at $1,617,000 after buying an additional 932 shares during the period. Finally, KBC Group NV grew its stake in shares of Tapestry by 14.5% in the 3rd quarter. KBC Group NV now owns 6,199 shares of the luxury accessories retailer's stock valued at $291,000 after buying an additional 785 shares during the period. Institutional investors own 90.77% of the company's stock.

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Tapestry Price Performance

Shares of Tapestry stock traded down $0.61 during trading hours on Thursday, reaching $72.89. The company's stock had a trading volume of 4,808,942 shares, compared to its average volume of 3,735,284. The firm has a 50 day moving average price of $76.97 and a 200-day moving average price of $61.37. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The stock has a market cap of $15.09 billion, a P/E ratio of 21.13, a P/E/G ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 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 quarter in the prior year, the business posted $1.63 EPS. On average, analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.92%. Tapestry's dividend payout ratio (DPR) is 40.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. UBS Group upped their target price on shares of Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Robert W. Baird increased their price objective on Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Guggenheim lifted their target price on Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, February 7th. StockNews.com lowered Tapestry from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Raymond James restated an "outperform" rating and set a $88.00 price objective (up from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $78.53.

Insider Transactions at Tapestry

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the transaction, the chief financial officer now directly owns 146,587 shares of the company's stock, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Todd Kahn sold 7,786 shares of the firm'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 sale, the chief executive officer now owns 201,531 shares in the company, valued at $17,652,100.29. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,537 shares of company stock valued at $5,730,589. Corporate insiders own 1.18% of the company's stock.

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.