Sentry Investment Management LLC Has $57,000 Stake in Tapestry, Inc. (NYSE:TPR)

Sentry Investment Management LLC decreased its holdings in Tapestry, Inc. (NYSE:TPR) by 14.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 869 shares of the luxury accessories retailer’s stock after selling 142 shares during the quarter. Sentry Investment Management LLC’s holdings in Tapestry were worth $57,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its stake in shares of Tapestry by 78.0% in the 4th 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 bought a new stake in shares of Tapestry in the third quarter valued at approximately $47,000. UMB Bank n.a. lifted its stake in shares of Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after buying an additional 496 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in shares of Tapestry by 68.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after acquiring an additional 605 shares during the period. Finally, Transamerica Financial Advisors Inc. boosted its stake in Tapestry by 159,100.0% in the 3rd 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 period. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays upped their price target on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Evercore ISI increased their target price on shares of Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Redburn Atlantic upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a research report on Tuesday, February 18th. Robert W. Baird increased their price target on shares of Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, BMO Capital Markets lifted their target price on shares of Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, November 18th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.53.

Insiders Place Their Bets

In other news, CEO Todd Kahn sold 21,107 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the completion of the sale, the chief executive officer now directly owns 176,985 shares of the company’s stock, valued at $14,866,740. This trade represents a 10.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the transaction, the general counsel now owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock worth $5,730,589 in the last 90 days. 1.18% of the stock is currently owned by corporate insiders.

Tapestry Trading Down 2.6 %

NYSE:TPR opened at $84.30 on Friday. The business has a fifty day moving average price of $74.36 and a 200-day moving average price of $57.79. 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. The firm has a market capitalization of $17.45 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58.

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

Tapestry Dividend Announcement

The business also recently disclosed 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. This represents a $1.40 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Thursday, March 6th. Tapestry’s payout ratio is currently 40.58%.

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.