Rodgers Brothers Inc. Lowers Holdings in Tapestry, Inc. (NYSE:TPR)

Rodgers Brothers Inc. reduced its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 50.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,230 shares of the luxury accessories retailer's stock after selling 29,188 shares during the quarter. Rodgers Brothers Inc.'s holdings in Tapestry were worth $1,844,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Alliancebernstein L.P. raised its holdings in shares of Tapestry by 15.2% in the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock valued at $270,304,000 after purchasing an additional 546,497 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in Tapestry by 14.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 51,247 shares of the luxury accessories retailer's stock valued at $3,348,000 after buying an additional 6,561 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Tapestry by 86.4% during the 4th quarter. Schroder Investment Management Group now owns 177,092 shares of the luxury accessories retailer's stock worth $11,656,000 after buying an additional 82,083 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in Tapestry by 1,792.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock worth $78,000 after purchasing an additional 1,129 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Tapestry by 767.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 464,478 shares of the luxury accessories retailer's stock worth $30,344,000 after buying an additional 410,918 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

TPR has been the subject of several research analyst reports. The Goldman Sachs Group raised their price target on shares of Tapestry from $72.00 to $98.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Evercore ISI upped their price target on Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Robert W. Baird lifted their price objective on Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Raymond James reaffirmed an "outperform" rating and set a $88.00 price objective (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. Finally, UBS Group increased their target price on shares of Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Tapestry currently has an average rating of "Moderate Buy" and an average price target of $78.53.

Tapestry Price Performance

NYSE TPR traded down $9.63 during trading hours on Thursday, reaching $65.11. 12,711,587 shares of the stock traded hands, compared to its average volume of 4,035,436. The stock has a 50 day simple moving average of $77.63 and a two-hundred day simple moving average of $63.59. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. 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 market cap of $13.48 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57.

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 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 business posted $1.63 earnings per share. On average, analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's dividend payout ratio is presently 40.58%.

Insider Buying and Selling at Tapestry

In related news, CEO Todd Kahn sold 7,786 shares of the company's 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 completion of the transaction, the chief executive officer now owns 201,531 shares in the company, valued at $17,652,100.29. This represents a 3.72 % 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, CFO Scott A. Roe sold 25,727 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock worth $5,730,589 over the last three months. Company insiders own 1.18% of the company's stock.

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.