Tapestry, Inc. (NYSE:TPR) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 24.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,852 shares of the luxury accessories retailer's stock after selling 10,737 shares during the period. ProShare Advisors LLC's holdings in Tapestry were worth $2,212,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quantinno Capital Management LP grew its holdings in shares of Tapestry by 13.1% in the fourth quarter. Quantinno Capital Management LP now owns 74,984 shares of the luxury accessories retailer's stock worth $4,899,000 after acquiring an additional 8,713 shares during the period. Mufg Securities Americas Inc. bought a new stake in shares of Tapestry in the fourth quarter worth $225,000. NorthRock Partners LLC bought a new stake in shares of Tapestry in the fourth quarter worth $284,000. Maven Securities LTD bought a new stake in shares of Tapestry in the fourth quarter worth $204,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Tapestry by 8.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,513 shares of the luxury accessories retailer's stock worth $4,280,000 after acquiring an additional 5,251 shares during the period. Institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

TPR has been the subject of several research analyst reports. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $92.00 price objective on shares of Tapestry in a report on Friday, May 9th. Evercore ISI lifted their price objective on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Raymond James reissued an "outperform" rating and set a $85.00 price target (up previously from $74.00) on shares of Tapestry in a report on Friday, May 9th. JPMorgan Chase & Co. boosted their price target on Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group boosted their price target on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a report on Friday, May 9th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Tapestry has an average rating of "Moderate Buy" and a consensus target price of $83.89.

Tapestry Price Performance

Shares of NYSE:TPR traded down $2.12 during mid-day trading on Friday, reaching $76.87. The stock had a trading volume of 3,937,130 shares, compared to its average volume of 4,233,321. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The company has a market cap of $15.96 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The business's 50 day moving average price is $71.46 and its 200 day moving average price is $70.10.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data 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 return on equity of 44.00% and a net margin of 11.74%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The company's quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.82%. Tapestry's dividend payout ratio (DPR) is presently 36.84%.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 1,399 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $81.88, for a total transaction 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 document filed with the SEC, which is available at this link. 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 $9,447,446.80. This trade represents a 25.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,506 shares of company stock worth $5,143,538 over the last ninety days. Company insiders own 1.18% of the company's stock.

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.