Scott A. Roe Sells 25,727 Shares of Tapestry, Inc. (NYSE:TPR) Stock

Tapestry, Inc. (NYSE:TPR) CFO Scott A. Roe sold 25,727 shares of the business’s stock in a transaction that occurred 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. The trade was a 14.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Tapestry Price Performance

NYSE:TPR opened at $84.12 on Wednesday. The company has a market cap of $17.41 billion, a P/E ratio of 24.38, a P/E/G ratio of 2.01 and a beta of 1.58. The firm’s fifty day moving average price is $73.44 and its two-hundred day moving average price is $57.40. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. 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 (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS 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 last year, the company posted $1.63 EPS. Equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently announced 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. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.66%. Tapestry’s dividend payout ratio (DPR) is currently 40.58%.

Analysts Set New Price Targets

TPR has been the topic of a number of recent research reports. Robert W. Baird lifted their price objective on shares of Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Raymond James reissued an “outperform” rating and set a $88.00 price target (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday. Redburn Atlantic raised Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Tuesday, February 18th. Finally, BMO Capital Markets increased their price target on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, November 18th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.53.

Institutional Trading of Tapestry

Several hedge funds have recently added to or reduced their stakes in TPR. Greenline Partners LLC bought a new position in Tapestry during the 4th quarter worth $29,000. Coppell Advisory Solutions LLC grew its stake in shares of Tapestry by 40.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after acquiring an additional 150 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after acquiring an additional 252 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new position in Tapestry during the fourth quarter worth about $48,000. Finally, Brooklyn Investment Group acquired a new stake in Tapestry in the 3rd quarter worth about $47,000. 90.77% of the stock is owned by institutional investors and hedge funds.

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.