American Century Companies Inc. Sells 1,167,733 Shares of Tapestry, Inc. (NYSE:TPR)

American Century Companies Inc. decreased its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 40.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,706,964 shares of the luxury accessories retailer's stock after selling 1,167,733 shares during the quarter. American Century Companies Inc. owned approximately 0.73% of Tapestry worth $111,516,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in Tapestry during the 3rd quarter worth about $237,000. Caprock Group LLC acquired a new position in shares of Tapestry during the third quarter worth approximately $240,000. Cerity Partners LLC grew its stake in shares of Tapestry by 179.1% during the third quarter. Cerity Partners LLC now owns 116,106 shares of the luxury accessories retailer's stock valued at $5,455,000 after purchasing an additional 74,509 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Tapestry by 25.3% during the third quarter. Kingsview Wealth Management LLC now owns 6,661 shares of the luxury accessories retailer's stock valued at $313,000 after acquiring an additional 1,346 shares during the period. Finally, Algert Global LLC raised its holdings in Tapestry by 17.3% during the 3rd quarter. Algert Global LLC now owns 45,054 shares of the luxury accessories retailer's stock worth $2,117,000 after purchasing an additional 6,640 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Stock Down 1.6 %

Shares of TPR traded down $1.25 during mid-day trading on Tuesday, hitting $74.47. 1,547,641 shares of the company's stock were exchanged, compared to its average volume of 5,646,359. The company has a 50-day simple moving average of $77.35 and a 200 day simple moving average of $62.20. 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 $15.42 billion, a PE ratio of 21.59, a P/E/G ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85.

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Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same period last year, the company posted $1.63 EPS. On average, research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.88%. Tapestry's dividend payout ratio is presently 40.58%.

Wall Street Analysts Forecast Growth

TPR has been the subject of several analyst reports. Morgan Stanley reissued an "equal weight" rating and set a $65.00 price target on shares of Tapestry in a research note on Tuesday, January 21st. Telsey Advisory Group upped their target price on shares of Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. 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. Jefferies Financial Group lifted their price objective on Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, StockNews.com lowered Tapestry from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.53.

Insider Buying and Selling

In other Tapestry news, CEO Todd Kahn sold 21,107 shares of the business'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 transaction of $1,772,988.00. Following the transaction, the chief executive officer now owns 176,985 shares of the company's stock, valued at $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction that occurred on 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 of the company's stock, valued at $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. 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. Insiders own 1.18% of the company's stock.

About Tapestry

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.