Blueshift Asset Management LLC Sells 89,258 Shares of Tapestry, Inc. (NYSE:TPR)

Blueshift Asset Management LLC lowered its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 81.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,894 shares of the luxury accessories retailer's stock after selling 89,258 shares during the quarter. Blueshift Asset Management LLC's holdings in Tapestry were worth $1,365,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC lifted its position in Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after acquiring an additional 252 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Tapestry in the 3rd quarter valued at about $47,000. UMB Bank n.a. boosted its position in shares of Tapestry by 72.9% in the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock valued at $77,000 after purchasing an additional 496 shares during the period. Parkside Financial Bank & Trust grew its stake in Tapestry by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer's stock worth $104,000 after buying an additional 182 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. lifted its stake in Tapestry by 159,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer's stock valued at $75,000 after buying an additional 1,591 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

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Insider Activity at Tapestry

In related news, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction 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 transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at $12,688,570.72. The trade was a 14.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $87.59, for a total transaction of $681,975.74. Following the transaction, the chief executive officer now owns 201,531 shares in the company, valued at approximately $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock worth $5,730,589 in the last ninety days. 1.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Evercore ISI increased their target price on shares of Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Jefferies Financial Group boosted their price target on Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Redburn Atlantic raised Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price objective for the company in a research report on Tuesday, February 18th. Finally, Morgan Stanley restated an "equal weight" rating and set a $65.00 price target on shares of Tapestry in a research note 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $78.53.

Tapestry Stock Up 3.5 %

Shares of NYSE TPR traded up $2.58 during midday trading on Monday, reaching $75.70. 5,468,458 shares of the company's stock were exchanged, compared to its average volume of 3,832,475. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The business's fifty day moving average price is $77.35 and its two-hundred day moving average price is $62.20. The stock has a market capitalization of $15.67 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter in the previous year, the firm earned $1.63 EPS. Analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry's dividend payout ratio is presently 40.58%.

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.