Tapestry, Inc. (NYSE:TPR) Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC decreased its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 18.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,752 shares of the luxury accessories retailer's stock after selling 15,941 shares during the quarter. Clifford Swan Investment Counsel LLC's holdings in Tapestry were worth $5,052,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in shares of Tapestry by 4.8% in the 4th quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock worth $527,799,000 after acquiring an additional 370,784 shares in the last quarter. Geode Capital Management LLC grew its holdings in Tapestry by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock worth $376,247,000 after acquiring an additional 176,717 shares during the last quarter. Alliancebernstein L.P. increased its position in Tapestry by 15.2% in the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock valued at $270,304,000 after acquiring an additional 546,497 shares in the last quarter. Northern Trust Corp lifted its position in shares of Tapestry by 3.0% during the fourth quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock worth $183,909,000 after purchasing an additional 83,222 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Tapestry by 593.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock valued at $143,198,000 after purchasing an additional 1,875,753 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TPR shares. Raymond James Financial reaffirmed an "outperform" rating and issued a $85.00 price objective (up previously from $74.00) on shares of Tapestry in a research note on Friday, May 9th. Cowen upgraded Tapestry from a "hold" rating to a "buy" rating in a research note on Thursday, June 12th. Wall Street Zen downgraded shares of Tapestry from a "strong-buy" rating to a "buy" rating in a report on Friday. UBS Group increased their target price on shares of Tapestry from $68.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, Barclays reaffirmed an "overweight" rating and set a $105.00 price objective (up from $98.00) on shares of Tapestry in a report on Friday, July 11th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $89.17.

Tapestry Price Performance

Shares of TPR traded up $2.95 during trading hours on Monday, hitting $106.37. 4,578,889 shares of the company were exchanged, compared to its average volume of 4,428,358. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 1.59. The company has a market cap of $22.09 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 2.14 and a beta of 1.47. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $107.40. The firm's fifty day moving average is $85.74 and its 200 day moving average is $77.55.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.14. The firm had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.53 billion. Tapestry had a net margin of 12.50% and a return on equity of 51.84%. The business's revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business earned $0.81 earnings per share. On average, equities analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, June 6th were issued a $0.35 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.32%. Tapestry's dividend payout ratio is currently 36.84%.

Insider Transactions at Tapestry

In other news, CEO Todd Kahn sold 40,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $81.40, for a total transaction of $3,256,000.00. Following the transaction, the chief executive officer owned 116,062 shares of the company's stock, valued at approximately $9,447,446.80. The trade was a 25.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Manesh Dadlani sold 1,399 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $81.88, for a total value of $114,550.12. Following the completion of the sale, the vice president owned 40,922 shares in the company, valued at $3,350,693.36. This represents a 3.31% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by corporate insiders.

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.