Tapestry, Inc. (NYSE:TPR) Shares Sold by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina lessened its holdings in Tapestry, Inc. (NYSE:TPRFree Report) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,926 shares of the luxury accessories retailer’s stock after selling 4,911 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Tapestry were worth $3,862,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bell Investment Advisors Inc raised its holdings in shares of Tapestry by 718.1% during the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after purchasing an additional 833 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Tapestry by 3,778.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock valued at $46,000 after buying an additional 1,209 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Tapestry by 130.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,500 shares of the luxury accessories retailer’s stock valued at $55,000 after buying an additional 848 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Tapestry by 334.7% in the fourth quarter. First Horizon Advisors Inc. now owns 1,504 shares of the luxury accessories retailer’s stock worth $55,000 after buying an additional 1,158 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in Tapestry during the fourth quarter worth about $57,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 2,500 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $42.23, for a total transaction of $105,575.00. Following the completion of the transaction, the vice president now directly owns 37,173 shares in the company, valued at approximately $1,569,815.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TPR. Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a report on Thursday, February 29th. Bernstein Bank lifted their price objective on shares of Tapestry from $46.00 to $48.00 in a report on Thursday, May 9th. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. cut their price target on Tapestry from $56.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Finally, The Goldman Sachs Group raised their price objective on Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a report on Friday, February 9th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.31.

Check Out Our Latest Report on Tapestry

Tapestry Stock Performance

NYSE TPR opened at $43.07 on Wednesday. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80. The firm has a market capitalization of $9.90 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 0.94 and a beta of 1.61. The stock’s fifty day moving average is $41.91 and its two-hundred day moving average is $40.55. The company has a debt-to-equity ratio of 2.77, a quick ratio of 5.98 and a current ratio of 6.59.

Tapestry (NYSE:TPRGet Free Report) last issued its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. Tapestry’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, research analysts anticipate that Tapestry, Inc. will post 4.22 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.40 annualized dividend and a yield of 3.25%. Tapestry’s payout ratio is 37.04%.

Tapestry Company Profile

(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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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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