Tapestry, Inc. (NYSE:TPR - Get Free Report) VP Manesh Dadlani sold 8,872 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. This represents a 20.22 % 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.
Tapestry Price Performance
Shares of NYSE TPR opened at $56.55 on Tuesday. The company has a market capitalization of $13.18 billion, a PE ratio of 16.34, a PEG ratio of 1.99 and a beta of 1.53. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The stock's 50 day moving average price is $46.85 and its 200-day moving average price is $43.12. Tapestry, Inc. has a twelve month low of $30.19 and a twelve month high of $58.49.
Tapestry Announces Dividend
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a $0.35 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.48%. Tapestry's dividend payout ratio (DPR) is presently 40.46%.
Institutional Investors Weigh In On Tapestry
A number of hedge funds have recently made changes to their positions in TPR. Charles Schwab Investment Management Inc. increased its holdings in Tapestry by 3.7% during 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 buying an additional 272,007 shares during the last quarter. Capital Research Global Investors grew its position in shares of Tapestry by 8.5% during the 1st quarter. Capital Research Global Investors now owns 6,238,670 shares of the luxury accessories retailer's stock valued at $296,212,000 after acquiring an additional 489,933 shares during the period. Pacer Advisors Inc. increased its stake in shares of Tapestry by 1.0% during the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer's stock worth $285,580,000 after purchasing an additional 58,135 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tapestry by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer's stock worth $262,156,000 after purchasing an additional 80,681 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Tapestry by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer's stock valued at $151,965,000 after purchasing an additional 165,406 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on TPR shares. The Goldman Sachs Group upped their price objective on shares of Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a report on Friday. Guggenheim increased their price target on Tapestry from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday. Robert W. Baird raised their price objective on Tapestry from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday. Telsey Advisory Group upped their target price on Tapestry from $58.00 to $67.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Raymond James reissued an "outperform" rating and issued a $57.00 price target (up previously from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.82.
Check Out Our Latest Research Report on TPR
Tapestry Company Profile
(
Get Free Report)
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.
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