Dimensional Fund Advisors LP Cuts Stake in Tapestry, Inc. (NYSE:TPR)

Dimensional Fund Advisors LP decreased its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,040,124 shares of the luxury accessories retailer's stock after selling 420,047 shares during the period. Dimensional Fund Advisors LP owned 1.30% of Tapestry worth $198,626,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Tapestry in the 4th quarter worth about $114,199,000. WT Asset Management Ltd bought a new position in Tapestry in the 4th quarter valued at $42,762,000. Raymond James Financial Inc. bought a new stake in Tapestry during the fourth quarter valued at $38,180,000. Alliancebernstein L.P. grew its position in Tapestry by 15.2% during the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after buying an additional 546,497 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in Tapestry by 767.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 464,478 shares of the luxury accessories retailer's stock worth $30,344,000 after acquiring an additional 410,918 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Trading Down 0.1 %

Shares of TPR traded down $0.04 during mid-day trading on Monday, hitting $68.85. 1,105,553 shares of the company's stock traded hands, compared to its average volume of 4,162,213. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $14.25 billion, a P/E ratio of 19.90, a PEG ratio of 2.01 and a beta of 1.37. The business's 50-day moving average price is $72.15 and its 200-day moving average price is $66.14. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (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 in the prior year, the company posted $1.63 EPS. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Thursday, March 6th. Tapestry's dividend payout ratio is currently 40.58%.

Insider Activity

In related news, CEO Todd Kahn sold 21,107 shares of Tapestry stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the completion of the transaction, the chief executive officer now directly owns 176,985 shares of the company's stock, valued at $14,866,740. This trade represents a 10.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock worth $5,730,589 in the last quarter. 1.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

TPR has been the subject of a number of research reports. Barclays cut their price target on shares of Tapestry from $100.00 to $83.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company upped their target price on shares of Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. The Goldman Sachs Group lowered their price target on Tapestry from $98.00 to $84.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. UBS Group upped their price objective on Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $65.00 price objective on shares of Tapestry in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $78.26.

About Tapestry

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.