Private Advisor Group LLC Lowers Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Private Advisor Group LLC reduced its position in Tapestry, Inc. (NYSE:TPR) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,336 shares of the luxury accessories retailer’s stock after selling 257 shares during the period. Private Advisor Group LLC’s holdings in Tapestry were worth $741,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its position in shares of Tapestry by 0.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock valued at $1,261,000 after acquiring an additional 170 shares during the period. Valley National Advisers Inc. raised its position in shares of Tapestry by 0.5% during the 4th quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer’s stock valued at $2,831,000 after buying an additional 202 shares in the last quarter. Redwood Investment Management LLC raised its position in shares of Tapestry by 0.4% during the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock valued at $2,269,000 after buying an additional 204 shares in the last quarter. IRON Financial LLC raised its position in shares of Tapestry by 4.5% during the 4th quarter. IRON Financial LLC now owns 4,882 shares of the luxury accessories retailer’s stock valued at $319,000 after buying an additional 208 shares in the last quarter. Finally, Lebenthal Global Advisors LLC raised its position in Tapestry by 2.8% in the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after purchasing an additional 215 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Todd Kahn sold 7,786 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the sale, the chief executive officer now directly owns 201,531 shares of the company’s stock, valued at approximately $17,652,100.29. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction that occurred 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. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,537 shares of company stock worth $5,730,589. Insiders own 1.18% of the company’s stock.

Tapestry Price Performance

Shares of NYSE TPR opened at $85.38 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The company has a market capitalization of $17.67 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 2.01 and a beta of 1.58. The firm has a 50-day moving average of $74.79 and a two-hundred day moving average of $58.26.

Tapestry (NYSE:TPR) last posted its quarterly earnings data 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 quarter last year, the firm earned $1.63 earnings per share. As a group, analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.64%. Tapestry’s dividend payout ratio is currently 40.58%.

Analyst Upgrades and Downgrades

TPR has been the topic of a number of research analyst reports. Barclays upped their target price on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Wells Fargo & Company raised their price target on shares of Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Telsey Advisory Group raised 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. Evercore ISI lifted their price objective on shares of Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $88.00 price objective (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus target price of $78.53.

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.