Traders Purchase High Volume of Call Options on Tapestry (NYSE:TPR)

Tapestry, Inc. (NYSE:TPR - Get Free Report) saw some unusual options trading on Monday. Investors acquired 16,433 call options on the company. This represents an increase of 87% compared to the typical volume of 8,772 call options.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays increased their target price on Tapestry from $87.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Jefferies Financial Group increased their price target on shares of Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. The Goldman Sachs Group boosted their price objective on shares of Tapestry from $72.00 to $98.00 and gave the company a "buy" rating in a report on Friday, February 7th. Wells Fargo & Company increased their target price on shares of Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Redburn Atlantic raised shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target for the company in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Tapestry has a consensus rating of "Moderate Buy" and a consensus price target of $78.53.

Insider Activity

In related news, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the transaction, the general counsel now owns 38,609 shares in the company, valued at $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the business'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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is owned by corporate insiders.

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Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TPR. Greenline Partners LLC acquired a new position in shares of Tapestry during the fourth quarter worth $29,000. Coppell Advisory Solutions LLC boosted its position in Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after buying an additional 150 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Tapestry by 78.0% during 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. Canada Post Corp Registered Pension Plan acquired a new position in shares of Tapestry during the fourth quarter worth $48,000. Finally, Brooklyn Investment Group bought a new position in Tapestry during the 3rd quarter worth $47,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Price Performance

Tapestry stock traded down $2.08 during mid-day trading on Thursday, reaching $69.61. 4,863,992 shares of the company were exchanged, compared to its average volume of 3,734,410. The firm has a market cap of $14.41 billion, a PE ratio of 20.18, a PEG ratio of 2.01 and a beta of 1.57. 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 company has a fifty day simple moving average of $76.57 and a 200-day simple moving average of $60.30. Tapestry has a 12 month low of $35.23 and a 12 month 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, topping analysts' consensus estimates 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 period in the previous year, the company earned $1.63 EPS. As a group, equities research analysts expect that Tapestry will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.01%. Tapestry's payout ratio is 40.58%.

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.