Cantor Fitzgerald Investment Advisors L.P. Trims Position in Tapestry, Inc. (NYSE:TPR)

Cantor Fitzgerald Investment Advisors L.P. lessened its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 28.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 223,243 shares of the luxury accessories retailer's stock after selling 88,821 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P. owned approximately 0.11% of Tapestry worth $15,719,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TPR. Southpoint Capital Advisors LP purchased a new stake in shares of Tapestry during the 4th quarter worth approximately $130,660,000. Price T Rowe Associates Inc. MD raised its stake in Tapestry by 593.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock worth $143,198,000 after acquiring an additional 1,875,753 shares in the last quarter. Norges Bank purchased a new stake in Tapestry in the fourth quarter valued at $114,199,000. Point72 Asset Management L.P. acquired a new position in Tapestry in the fourth quarter valued at $101,433,000. Finally, Candlestick Capital Management LP acquired a new position in Tapestry in the fourth quarter valued at $66,902,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 1,399 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $81.88, for a total value of $114,550.12. Following the sale, the vice president now directly owns 40,922 shares in the company, valued at $3,350,693.36. This represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Kahn sold 40,000 shares of the 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 sale, the chief executive officer now directly owns 116,062 shares in the company, valued at approximately $9,447,446.80. The trade was a 25.63% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TPR shares. Barclays boosted their target price on Tapestry from $83.00 to $98.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Robert W. Baird boosted their price objective on Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Citigroup raised their target price on shares of Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. The Goldman Sachs Group upped their price target on shares of Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, TD Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price target for the company in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.78.

Tapestry Price Performance

NYSE:TPR traded up $0.17 during trading hours on Friday, hitting $84.41. The company's stock had a trading volume of 4,336,744 shares, compared to its average volume of 4,289,437. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.22 and a current ratio of 1.76. The business's 50-day moving average is $75.69 and its two-hundred day moving average is $73.21. The company has a market capitalization of $17.53 billion, a PE ratio of 22.21, a PEG ratio of 1.87 and a beta of 1.46.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.14. Tapestry had a net margin of 12.50% and a return on equity of 51.84%. The business 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 firm posted $0.81 EPS. The business's revenue was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Friday, June 6th. Tapestry's dividend payout ratio (DPR) is 36.84%.

Tapestry Company 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.