Tapestry (NYSE:TPR) CFO Scott Roe Sells 54,644 Shares of Stock

Tapestry, Inc. (NYSE:TPR) CFO Scott Roe sold 54,644 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $135.50, for a total value of $7,404,262.00. Following the completion of the sale, the chief financial officer owned 76,161 shares of the company’s stock, valued at approximately $10,319,815.50. This represents a 41.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tapestry Stock Down 0.7%

TPR stock opened at $132.44 on Friday. The stock’s 50 day simple moving average is $118.28 and its 200 day simple moving average is $137.05. The company has a market cap of $26.03 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. The company has a debt-to-equity ratio of 5.70, a quick ratio of 0.76 and a current ratio of 1.24. Tapestry, Inc. has a fifty-two week low of $99.00 and a fifty-two week high of $164.80.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, November 5th. The luxury accessories retailer reported $1.82 EPS for the quarter, beating the consensus estimate of $1.56 by $0.26. Tapestry had a return on equity of 274.20% and a net margin of 19.68%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts expect that Tapestry, Inc. will post 8.30 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Friday, December 4th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, December 4th. Tapestry’s dividend payout ratio (DPR) is currently 23.81%.

Analyst Ratings Changes

Several brokerages recently weighed in on TPR. BNP Paribas Exane raised their price target on shares of Tapestry from $185.00 to $187.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Evercore lowered their price objective on Tapestry from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, August 14th. Weiss Ratings raised Tapestry from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Telsey Advisory Group lifted their target price on Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, UBS Group lowered their price target on Tapestry from $232.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and an average price target of $167.26.

Hedge Funds Weigh In On Tapestry

Several hedge funds have recently modified their holdings of TPR. BlackRock Inc. bought a new stake in Tapestry during the second quarter worth $2,610,995,000. Bank of America Corp DE bought a new position in Tapestry in the 2nd quarter valued at $771,309,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Tapestry by 53.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,169,602 shares of the luxury accessories retailer’s stock valued at $317,586,000 after purchasing an additional 758,915 shares during the last quarter. Amundi raised its stake in shares of Tapestry by 96.0% during the 1st quarter. Amundi now owns 1,769,905 shares of the luxury accessories retailer’s stock worth $249,751,000 after purchasing an additional 866,969 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Tapestry during the 2nd quarter worth $175,291,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Company Profile

Tapestry, Inc. is a global fashion company whose portfolio includes Coach and Kate Spade New York. The company designs and sells handbags, accessories, footwear, apparel, jewelry and other lifestyle products through retail stores, e-commerce and wholesale partners. Based in New York, Tapestry serves customers in North America and international markets, including Asia and Europe. Its brands reach consumers through company-operated stores and digital channels as well as select department stores and other retail partners.