Tapestry, Inc. (NYSE:TPR) Shares Sold by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC lowered its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 19.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,300 shares of the luxury accessories retailer's stock after selling 9,600 shares during the quarter. Bridgeway Capital Management LLC's holdings in Tapestry were worth $2,633,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Franklin Resources Inc. lifted its position in shares of Tapestry by 10.6% during the third quarter. Franklin Resources Inc. now owns 163,234 shares of the luxury accessories retailer's stock worth $7,442,000 after purchasing an additional 15,585 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Tapestry by 1.0% in the third quarter. Retirement Systems of Alabama now owns 51,180 shares of the luxury accessories retailer's stock valued at $2,404,000 after acquiring an additional 493 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Tapestry by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 71,845 shares of the luxury accessories retailer's stock valued at $4,694,000 after acquiring an additional 898 shares in the last quarter. Czech National Bank raised its holdings in Tapestry by 7.7% in the fourth quarter. Czech National Bank now owns 50,527 shares of the luxury accessories retailer's stock valued at $3,301,000 after acquiring an additional 3,629 shares in the last quarter. Finally, Reinhart Partners LLC. acquired a new stake in Tapestry in the fourth quarter valued at approximately $5,969,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Stock Performance

Tapestry stock traded up $4.55 during trading hours on Monday, reaching $82.56. 5,627,283 shares of the stock were exchanged, compared to its average volume of 4,222,506. The stock has a market cap of $17.09 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.01 and a beta of 1.41. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The firm's 50 day moving average is $69.75 and its 200 day moving average is $68.11.

Tapestry (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.14. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company earned $0.81 earnings per share. Tapestry's quarterly revenue was up 6.9% compared to the same quarter last year. Analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry's dividend payout ratio (DPR) is currently 36.84%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TPR. Citigroup raised their target price on shares of Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a report on Friday. Guggenheim increased their price target on shares of Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Jefferies Financial Group increased their price target on shares of Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their price target on shares of Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, UBS Group increased their price target on shares of Tapestry from $68.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Tapestry currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.06.

Insider Buying and Selling at Tapestry

In other news, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the transaction, the general counsel now owns 38,609 shares in the company, valued at $3,397,592. This trade represents a 23.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Todd Kahn sold 40,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $81.40, for a total value of $3,256,000.00. Following the completion of the transaction, the chief executive officer now owns 116,062 shares of the company's stock, valued at approximately $9,447,446.80. This represents a 25.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,537 shares of company stock valued at $8,986,589. 1.18% of the stock is owned by company insiders.

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.