GTS Securities LLC Has $252,000 Stock Position in Tapestry, Inc. (NYSE:TPR)

GTS Securities LLC cut its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 90.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,853 shares of the luxury accessories retailer's stock after selling 35,332 shares during the period. GTS Securities LLC's holdings in Tapestry were worth $252,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TPR. Greenline Partners LLC bought a new stake in Tapestry in the fourth quarter worth approximately $29,000. Coppell Advisory Solutions LLC grew its position in 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 acquiring an additional 150 shares in the last quarter. Venturi Wealth Management LLC grew its position in Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after acquiring an additional 252 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in Tapestry in the fourth quarter worth approximately $48,000. Finally, Brown Brothers Harriman & Co. grew its position in Tapestry by 1,792.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock worth $78,000 after acquiring an additional 1,129 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Manesh Dadlani sold 1,399 shares of Tapestry stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $81.88, for a total transaction of $114,550.12. Following the transaction, the vice president now owns 40,922 shares of the company's stock, valued at $3,350,693.36. This trade represents a 3.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Kahn sold 40,000 shares of Tapestry stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $81.40, for a total transaction of $3,256,000.00. Following the transaction, the chief executive officer now directly owns 116,062 shares in the company, valued at $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

A number of analysts have recently weighed in on the stock. Guggenheim boosted their price objective on shares of Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Raymond James restated an "outperform" rating and issued a $85.00 price objective (up from $74.00) on shares of Tapestry in a research note on Friday, May 9th. Morgan Stanley upgraded shares of Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price objective for the company in a research note on Thursday, May 8th. Barclays boosted their price objective on shares of Tapestry from $83.00 to $98.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Finally, Wall Street Zen upgraded shares of Tapestry from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and an average price target of $83.89.

Tapestry Price Performance

NYSE:TPR traded up $0.03 during mid-day trading on Friday, reaching $78.47. 2,869,991 shares of the company were exchanged, compared to its average volume of 4,262,147. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company has a fifty day moving average of $71.96 and a 200 day moving average of $71.06. 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 stock has a market cap of $16.30 billion, a PE ratio of 22.74, a PEG ratio of 2.01 and a beta of 1.41.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The company's revenue was up 6.9% on a year-over-year basis. On average, research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Friday, June 6th. Tapestry's dividend payout ratio (DPR) is presently 36.84%.

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.