Valley Wealth Managers Inc. Has $26.46 Million Stock Position in Tapestry, Inc. (NYSE:TPR)

Valley Wealth Managers Inc. cut its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 404,939 shares of the luxury accessories retailer's stock after selling 20,166 shares during the period. Tapestry accounts for approximately 2.0% of Valley Wealth Managers Inc.'s portfolio, making the stock its 8th largest holding. Valley Wealth Managers Inc. owned approximately 0.17% of Tapestry worth $26,455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Tapestry by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer's stock worth $357,732,000 after purchasing an additional 272,007 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Tapestry by 1.0% during the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer's stock valued at $285,580,000 after purchasing an additional 58,135 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tapestry by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer's stock valued at $262,156,000 after purchasing an additional 80,681 shares during the period. Westfield Capital Management Co. LP raised its holdings in shares of Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer's stock valued at $79,822,000 after acquiring an additional 219,544 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Tapestry by 8.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,618 shares of the luxury accessories retailer's stock valued at $66,459,000 after acquiring an additional 115,340 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Insider Activity at Tapestry

In related news, General Counsel David E. Howard sold 11,917 shares of the business'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 in the company, valued at $3,397,592. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TPR shares. Guggenheim increased their price objective on Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, February 7th. StockNews.com cut Tapestry from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. Jefferies Financial Group raised their target price on Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. TD Cowen cut Tapestry from a "buy" rating to a "hold" rating and set a $52.00 target price on the stock. in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group lifted their price objective on Tapestry from $72.00 to $98.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $78.53.

Tapestry Trading Down 2.2 %

Shares of Tapestry stock traded down $1.92 on Friday, reaching $84.60. The company had a trading volume of 3,583,160 shares, compared to its average volume of 5,112,137. The firm has a market cap of $17.51 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 2.07 and a beta of 1.58. 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 firm's 50-day moving average price is $72.63 and its two-hundred day moving average price is $56.48. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85.

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

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Thursday, March 6th. Tapestry's payout ratio is currently 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.