Dana Investment Advisors Inc. Trims Stock Position in Tapestry, Inc. (NYSE:TPR)

Dana Investment Advisors Inc. cut its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 298,082 shares of the luxury accessories retailer's stock after selling 20,457 shares during the period. Dana Investment Advisors Inc. owned 0.13% of Tapestry worth $19,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its position in Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after buying an additional 252 shares in the last quarter. Brooklyn Investment Group purchased a new position in Tapestry during the third quarter worth approximately $47,000. UMB Bank n.a. lifted its position in Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock worth $77,000 after buying an additional 496 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its position in Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer's stock worth $70,000 after buying an additional 605 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in Tapestry by 13.0% during the fourth 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 in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

TPR has been the topic of a number of analyst reports. Telsey Advisory Group lifted their price objective on Tapestry from $74.00 to $83.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. UBS Group lifted their price objective on Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. 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. Barclays lifted their target price on Tapestry from $87.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Finally, BMO Capital Markets lifted their target price on Tapestry from $55.00 to $60.00 and gave the company a "market perform" rating in a research report on Monday, November 18th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Tapestry currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.53.

Tapestry Stock Down 3.5 %

TPR traded down $2.72 on Friday, hitting $75.00. 7,520,384 shares of the company were exchanged, compared to its average volume of 5,197,207. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The company has a market cap of $15.53 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The firm has a 50-day moving average price of $76.22 and a two-hundred day moving average price of $59.67.

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

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.87%. Tapestry's dividend payout ratio is currently 40.58%.

Insider Transactions at Tapestry

In related news, CFO Scott A. Roe sold 25,727 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now directly owns 146,587 shares of the company's stock, valued at $12,688,570.72. This represents a 14.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the company's stock in a transaction dated 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 completion of the sale, the general counsel now directly owns 38,609 shares of the company's stock, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is currently owned by corporate insiders.

Tapestry Company 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.