Tapestry, Inc. (NYSE:TPR) Shares Sold by Delphi Management Inc. MA

Delphi Management Inc. MA trimmed its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 27.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,685 shares of the luxury accessories retailer's stock after selling 6,901 shares during the period. Delphi Management Inc. MA's holdings in Tapestry were worth $1,316,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TPR. Coppell Advisory Solutions LLC grew its position in Tapestry by 40.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Checchi Capital Advisers LLC grew its position in Tapestry by 1.9% during the fourth quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer's stock valued at $580,000 after acquiring an additional 163 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Tapestry by 0.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer's stock valued at $1,261,000 after acquiring an additional 170 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Tapestry by 13.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer's stock valued at $104,000 after acquiring an additional 182 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Tapestry by 25.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock valued at $68,000 after acquiring an additional 194 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Insider Transactions at Tapestry

In other news, CEO Todd Kahn sold 40,000 shares of the firm's stock in a transaction 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 owns 116,062 shares in the company, valued at approximately $9,447,446.80. This trade represents a 25.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Manesh Dadlani sold 1,399 shares of the firm'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 transaction, the vice president now owns 40,922 shares in the company, valued at approximately $3,350,693.36. This represents a 3.31% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

Analysts Set New Price Targets

TPR has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Tapestry from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. UBS Group raised their target price on shares of Tapestry from $68.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Telsey Advisory Group restated an "outperform" rating and issued a $92.00 target price on shares of Tapestry in a report 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 target on the stock in a report on Thursday, May 8th. Finally, Guggenheim lifted their price target on shares of Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Tapestry presently has an average rating of "Moderate Buy" and a consensus price target of $83.89.

Tapestry Price Performance

NYSE TPR traded up $0.08 during trading hours on Monday, reaching $78.63. The company's stock had a trading volume of 2,611,483 shares, compared to its average volume of 4,255,508. The firm's 50-day moving average price is $71.96 and its 200-day moving average price is $71.29. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The company has a market capitalization of $16.33 billion, a price-to-earnings ratio of 22.79, 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.14. The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.53 billion. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The company's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. On average, equities research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

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

Tapestry 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.