Sei Investments Co. Sells 156,682 Shares of Tapestry, Inc. (NYSE:TPR)

Sei Investments Co. lowered its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 44.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 195,758 shares of the luxury accessories retailer's stock after selling 156,682 shares during the period. Sei Investments Co. owned approximately 0.08% of Tapestry worth $12,789,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in TPR. Mizuho Securities USA LLC raised its holdings in Tapestry by 47.9% in the 4th quarter. Mizuho Securities USA LLC now owns 22,087 shares of the luxury accessories retailer's stock valued at $1,443,000 after acquiring an additional 7,158 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Tapestry in the fourth quarter valued at $271,000. Summit Global Investments bought a new position in Tapestry in the fourth quarter worth $1,919,000. Semanteon Capital Management LP acquired a new stake in Tapestry during the fourth quarter worth $599,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Tapestry in the 4th quarter valued at $1,246,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TPR. JPMorgan Chase & Co. lifted their target price on shares of Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Telsey Advisory Group upped their price objective on Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Morgan Stanley restated an "equal weight" rating and set a $65.00 target price on shares of Tapestry in a research report on Tuesday, January 21st. Redburn Atlantic upgraded Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target on the stock in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group upped their price objective on shares of Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and an average price target of $78.53.

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Tapestry Trading Up 3.1 %

Shares of Tapestry stock traded up $2.19 on Tuesday, hitting $72.60. 2,421,012 shares of the company's stock traded hands, compared to its average volume of 3,988,970. The firm's 50-day moving average price is $77.63 and its two-hundred day moving average price is $63.29. 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 stock has a market capitalization of $15.03 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating 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 firm earned $1.63 earnings per share. On average, research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced 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 1.93%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's payout ratio is presently 40.58%.

Insiders Place Their Bets

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction on Thursday, February 20th. The shares were 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 in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Kahn sold 21,107 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the sale, the chief executive officer now owns 176,985 shares in the company, valued at approximately $14,866,740. This represents a 10.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,537 shares of company stock worth $5,730,589. 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.