Investors Research Corp Sells 10,700 Shares of Tapestry, Inc. (NYSE:TPR)

Investors Research Corp decreased its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 56.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,275 shares of the luxury accessories retailer's stock after selling 10,700 shares during the period. Investors Research Corp's holdings in Tapestry were worth $541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TPR. Asset Management One Co. Ltd. lifted its position in Tapestry by 22.3% in the third quarter. Asset Management One Co. Ltd. now owns 4,558 shares of the luxury accessories retailer's stock worth $214,000 after purchasing an additional 832 shares during the period. Nations Financial Group Inc. IA ADV boosted its holdings in Tapestry by 6.1% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 6,305 shares of the luxury accessories retailer's stock valued at $296,000 after purchasing an additional 363 shares during the period. GSA Capital Partners LLP acquired a new stake in Tapestry in the 3rd quarter worth $237,000. North Growth Management Ltd. increased its holdings in shares of Tapestry by 0.3% during the 3rd quarter. North Growth Management Ltd. now owns 290,000 shares of the luxury accessories retailer's stock worth $13,617,000 after purchasing an additional 1,000 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position 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 buying an additional 2,326 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, CFO Scott A. Roe sold 25,727 shares of the company'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 transaction of $2,226,929.12. Following the completion of the transaction, the chief financial officer now owns 146,587 shares in the company, valued at $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction that occurred on 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 transaction, the general counsel now owns 38,609 shares of the company's stock, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock valued at $5,730,589 in the last ninety days. Company insiders own 1.18% of the company's stock.

Tapestry Stock Up 1.7 %

Shares of NYSE:TPR traded up $1.20 during mid-day trading on Tuesday, hitting $71.90. 7,869,428 shares of the company traded hands, compared to its average volume of 3,715,577. The stock has a market cap of $14.88 billion, a P/E ratio of 20.84, a P/E/G ratio of 2.01 and a beta of 1.57. The stock has a 50-day moving average price of $76.45 and a two-hundred day moving average price of $60.22. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78.

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

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.95%. Tapestry's payout ratio is 40.58%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TPR shares. Telsey Advisory Group boosted their target price on Tapestry from $74.00 to $83.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Morgan Stanley reissued an "equal weight" rating and issued a $65.00 target price on shares of Tapestry in a research note on Tuesday, January 21st. Barclays lifted their price target on shares of 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 boosted their price objective 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. Finally, Raymond James reissued an "outperform" rating and issued a $88.00 price target (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Tapestry presently has an average rating of "Moderate Buy" and an average target price of $78.53.

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.