Tapestry, Inc. (NYSE:TPR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in Tapestry, Inc. (NYSE:TPR) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 269,821 shares of the luxury accessories retailer’s stock after selling 3,383 shares during the quarter. Principal Financial Group Inc.’s holdings in Tapestry were worth $12,676,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Tapestry by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,175 shares of the luxury accessories retailer’s stock worth $2,147,000 after buying an additional 3,972 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Tapestry by 7.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,131 shares of the luxury accessories retailer’s stock worth $348,000 after acquiring an additional 540 shares during the period. Signaturefd LLC lifted its holdings in Tapestry by 89.3% during the second quarter. Signaturefd LLC now owns 2,578 shares of the luxury accessories retailer’s stock valued at $110,000 after purchasing an additional 1,216 shares in the last quarter. iA Global Asset Management Inc. grew its position in shares of Tapestry by 15.7% in the second quarter. iA Global Asset Management Inc. now owns 17,794 shares of the luxury accessories retailer’s stock valued at $761,000 after purchasing an additional 2,417 shares during the period. Finally, Rothschild Investment LLC acquired a new position in shares of Tapestry during the 2nd quarter worth about $84,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other news, 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 value of $514,221.12. Following the sale, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.18% of the company’s stock.

Tapestry Stock Performance

Shares of Tapestry stock opened at $65.87 on Friday. 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 firm has a market cap of $15.35 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 1.80 and a beta of 1.60. The business’s fifty day simple moving average is $57.04 and its 200-day simple moving average is $47.20. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $66.47.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.13%. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Analyst Ratings Changes

Several research firms have commented on TPR. JPMorgan Chase & Co. boosted their price objective on Tapestry from $66.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Evercore ISI boosted their price target on Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Raymond James restated an “outperform” rating and issued a $57.00 price objective (up previously from $55.00) on shares of Tapestry in a report on Friday, November 8th. Barclays reiterated an “equal weight” rating and issued a $57.00 target price on shares of Tapestry in a research report on Wednesday, November 20th. Finally, Bank of America boosted their price target on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $61.24.

Tapestry Profile

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.