Tapestry Inc (NYSE:TPR) insider Sarah Dunn sold 32,000 shares of Tapestry stock in a transaction on Friday, November 29th. The stock was sold at an average price of $26.78, for a total transaction of $856,960.00. Following the sale, the insider now owns 62,131 shares in the company, valued at approximately $1,663,868.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of NYSE:TPR traded down $1.00 on Monday, hitting $25.89. The stock had a trading volume of 4,009,500 shares, compared to its average volume of 4,795,395. Tapestry Inc has a twelve month low of $18.54 and a twelve month high of $41.06. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.82. The firm’s 50 day moving average price is $26.29 and its 200-day moving average price is $27.22. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 1.15 and a beta of 1.01.
Tapestry (NYSE:TPR) last issued its earnings results on Tuesday, November 5th. The luxury accessories retailer reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Tapestry had a net margin of 9.01% and a return on equity of 21.17%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company earned $0.48 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, sell-side analysts predict that Tapestry Inc will post 2.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 6th will be paid a $0.338 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.35 annualized dividend and a dividend yield of 5.22%. Tapestry’s dividend payout ratio is presently 52.53%.
Several large investors have recently modified their holdings of TPR. Prudential Financial Inc. boosted its stake in shares of Tapestry by 347.2% in the 2nd quarter. Prudential Financial Inc. now owns 4,946,057 shares of the luxury accessories retailer’s stock valued at $156,938,000 after purchasing an additional 3,840,023 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Tapestry by 39,001.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,790,642 shares of the luxury accessories retailer’s stock valued at $88,548,000 after purchasing an additional 2,783,505 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Tapestry by 28.5% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,326,188 shares of the luxury accessories retailer’s stock valued at $169,000,000 after purchasing an additional 1,182,774 shares in the last quarter. Holocene Advisors LP boosted its stake in shares of Tapestry by 1,872.8% in the 2nd quarter. Holocene Advisors LP now owns 979,960 shares of the luxury accessories retailer’s stock valued at $31,094,000 after purchasing an additional 930,286 shares in the last quarter. Finally, Natixis boosted its stake in shares of Tapestry by 6,554.9% in the 2nd quarter. Natixis now owns 909,994 shares of the luxury accessories retailer’s stock valued at $28,874,000 after purchasing an additional 896,320 shares in the last quarter. Institutional investors own 89.69% of the company’s stock.
TPR has been the topic of a number of recent research reports. Deutsche Bank set a $33.00 price target on shares of Tapestry and gave the stock a “buy” rating in a research note on Friday, August 16th. Telsey Advisory Group downgraded shares of Tapestry from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 15th. HSBC downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research note on Monday, October 28th. Needham & Company LLC reiterated a “buy” rating and set a $35.00 price target on shares of Tapestry in a research note on Wednesday, October 30th. Finally, Piper Jaffray Companies downgraded shares of Tapestry from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $40.00 to $23.00 in a research note on Friday, August 16th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company. Tapestry presently has an average rating of “Hold” and an average target price of $31.00.
Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.
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