Tapestry, Inc. (NYSE:TPR) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 39.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 407,095 shares of the luxury accessories retailer's stock after selling 268,510 shares during the period. Primecap Management Co. CA owned about 0.17% of Tapestry worth $26,596,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of TPR. GSA Capital Partners LLP purchased a new position in Tapestry in the 3rd quarter valued at $237,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Tapestry by 42.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,779 shares of the luxury accessories retailer's stock worth $365,000 after acquiring an additional 2,326 shares during the period. KBC Group NV raised its holdings in shares of Tapestry by 14.5% during the 3rd quarter. KBC Group NV now owns 6,199 shares of the luxury accessories retailer's stock worth $291,000 after acquiring an additional 785 shares during the period. Metis Global Partners LLC acquired a new position in shares of Tapestry during the 3rd quarter valued at about $206,000. Finally, OneDigital Investment Advisors LLC grew its holdings in shares of Tapestry by 3.0% in the third quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer's stock valued at $353,000 after purchasing an additional 218 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analyst Weigh In

TPR has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an "equal weight" rating and issued a $65.00 price objective on shares of Tapestry in a report on Tuesday, January 21st. StockNews.com cut Tapestry from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Raymond James restated an "outperform" rating and set a $88.00 target price (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. Guggenheim upped their price target on Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Wells Fargo & Company upped their target price on shares of Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $78.53.

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Insider Buying and Selling

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction 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. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Scott A. Roe sold 25,727 shares of the company's 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock worth $5,730,589 in the last three months. Corporate insiders own 1.18% of the company's stock.

Tapestry Price Performance

TPR stock traded up $2.58 during trading on Monday, reaching $75.70. 5,468,458 shares of the company were exchanged, compared to its average volume of 3,832,475. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The stock's 50 day moving average price is $77.17 and its 200 day moving average price is $61.96. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The company has a market cap of $15.67 billion, a P/E ratio of 21.94, a PEG ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping the consensus estimate 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 quarter last year, the business posted $1.63 EPS. As a group, analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company 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 dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is presently 40.58%.

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.