GAM Holding AG Sells 8,400 Shares of Tapestry, Inc. (NYSE:TPR)

GAM Holding AG lessened its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 152,500 shares of the luxury accessories retailer's stock after selling 8,400 shares during the quarter. GAM Holding AG owned 0.07% of Tapestry worth $10,738,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TPR. Greenline Partners LLC bought a new stake in shares of Tapestry during the 4th quarter valued at about $29,000. Coppell Advisory Solutions LLC boosted its holdings in shares of Tapestry by 40.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after buying an additional 150 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Tapestry in the first quarter worth approximately $35,000. Venturi Wealth Management LLC grew its position in Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after buying an additional 252 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Tapestry during the fourth quarter valued at approximately $48,000. Institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on TPR shares. Argus increased their price target on shares of Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday. Wells Fargo & Company restated an "overweight" rating and issued a $100.00 price objective (up from $90.00) on shares of Tapestry in a research note on Wednesday, May 14th. Raymond James Financial reiterated an "outperform" rating and set a $85.00 target price (up from $74.00) on shares of Tapestry in a research report on Friday, May 9th. Barclays boosted their price target on Tapestry from $83.00 to $98.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, TD Cowen raised Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Thursday, June 12th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $88.78.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 1,399 shares of Tapestry stock in a transaction dated 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 of the company's stock, valued at approximately $3,350,693.36. The trade was a 3.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Kahn sold 40,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $81.40, for a total value of $3,256,000.00. Following the completion of the sale, the chief executive officer now owns 116,062 shares in the company, valued at $9,447,446.80. This represents a 25.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

Tapestry Trading Up 0.2%

TPR stock opened at $84.41 on Friday. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $90.85. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.76 and a quick ratio of 1.22. The company has a market capitalization of $17.53 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 1.87 and a beta of 1.46. The business has a 50 day simple moving average of $76.11 and a two-hundred day simple moving average of $73.35.

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, topping the consensus estimate of $0.89 by $0.14. Tapestry had a net margin of 12.50% and a return on equity of 51.84%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The company's quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, June 6th. Tapestry's payout ratio is currently 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.

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