Tapestry, Inc. (NYSE:TPR) Shares Sold by Personal CFO Solutions LLC

Personal CFO Solutions LLC lowered its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 82.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,605 shares of the luxury accessories retailer's stock after selling 16,419 shares during the quarter. Personal CFO Solutions LLC's holdings in Tapestry were worth $236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TPR. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Tapestry during the 4th quarter valued at about $261,000. PNC Financial Services Group Inc. lifted its holdings in shares of Tapestry by 3.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 52,949 shares of the luxury accessories retailer's stock worth $3,459,000 after purchasing an additional 1,560 shares during the period. Edgestream Partners L.P. boosted its position in Tapestry by 52.6% in the fourth quarter. Edgestream Partners L.P. now owns 141,601 shares of the luxury accessories retailer's stock valued at $9,251,000 after buying an additional 48,795 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in Tapestry by 1.6% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer's stock worth $833,000 after buying an additional 200 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Tapestry in the 4th quarter worth approximately $38,180,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

TPR has been the topic of several recent research reports. Redburn Atlantic raised shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price objective on the stock in a report on Tuesday, February 18th. Robert W. Baird upped their price target on shares of Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Barclays upped their target price on Tapestry from $87.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Finally, Raymond James restated 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 analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $78.53.

Insider Activity at Tapestry

In related news, CFO Scott A. Roe sold 25,727 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now directly owns 146,587 shares of the company's stock, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the completion of the sale, the chief executive officer now owns 201,531 shares in the company, valued at approximately $17,652,100.29. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by company insiders.

Tapestry Price Performance

NYSE TPR traded down $2.08 during trading hours on Thursday, hitting $69.61. 4,863,992 shares of the company's stock traded hands, compared to its average volume of 3,737,282. The company has a market capitalization of $14.41 billion, a PE ratio of 20.18, a PEG ratio of 2.01 and a beta of 1.57. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The firm's 50-day moving average is $76.57 and its 200-day moving average is $60.30.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (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 last year, the firm earned $1.63 earnings per share. Equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

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 given a dividend of $0.35 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.01%. Tapestry's payout ratio is 40.58%.

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.