ING Groep NV Sells 30,926 Shares of Tapestry, Inc. (NYSE:TPR)

ING Groep NV reduced its position in shares of Tapestry, Inc. (NYSE:TPR) by 53.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,726 shares of the luxury accessories retailer’s stock after selling 30,926 shares during the quarter. ING Groep NV’s holdings in Tapestry were worth $1,746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TPR. Venturi Wealth Management LLC increased its position in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after acquiring an additional 252 shares in the last quarter. Brooklyn Investment Group acquired a new position in Tapestry during the 3rd quarter valued at about $47,000. UMB Bank n.a. increased its holdings in Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after purchasing an additional 496 shares in the last quarter. Deseret Mutual Benefit Administrators increased its holdings in Tapestry by 68.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after purchasing an additional 605 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. raised its stake in shares of Tapestry by 159,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after purchasing an additional 1,591 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 2.2 %

Shares of TPR opened at $84.60 on Monday. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. 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 firm has a market cap of $17.51 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58. The business has a 50-day moving average of $72.63 and a 200 day moving average of $56.75.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company earned $1.63 EPS. As a group, research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be issued a $0.35 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.65%. Tapestry’s payout ratio is 40.58%.

Analyst Ratings Changes

TPR has been the subject of several recent research reports. 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. Morgan Stanley reiterated an “equal weight” rating and issued a $65.00 target price on shares of Tapestry in a research note on Tuesday, January 21st. UBS Group raised their price target on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Telsey Advisory Group boosted their price target on shares of Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Evercore ISI increased their price objective on shares of Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.53.

Insider Activity

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the sale, the general counsel now directly owns 38,609 shares of the company’s stock, valued at $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.18% of the stock is owned by corporate insiders.

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.