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

Denali Advisors LLC lowered its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 41.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,608 shares of the luxury accessories retailer's stock after selling 2,522 shares during the period. Denali Advisors LLC's holdings in Tapestry were worth $254,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TPR. Greenline Partners LLC acquired a new stake in Tapestry during the 4th quarter valued at $29,000. Coppell Advisory Solutions LLC grew its holdings in Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after buying an additional 150 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in Tapestry during the 1st quarter valued at $35,000. MorganRosel Wealth Management LLC acquired a new stake in Tapestry during the 1st quarter valued at $35,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in Tapestry during the 4th quarter valued at $48,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Trading Up 1.2%

NYSE:TPR opened at $103.41 on Monday. The business's 50-day moving average is $85.74 and its two-hundred day moving average is $77.55. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.76 and a quick ratio of 1.22. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $104.23. The firm has a market capitalization of $21.48 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.14 and a beta of 1.47.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. Tapestry had a return on equity of 51.84% and a net margin of 12.50%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the company earned $0.81 earnings per share. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 6th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, June 6th. Tapestry's payout ratio is 36.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Telsey Advisory Group reiterated an "outperform" rating and set a $92.00 target price on shares of Tapestry in a report on Friday, May 9th. Cowen upgraded Tapestry from a "hold" rating to a "buy" rating in a report on Thursday, June 12th. Argus raised their price objective on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Morgan Stanley upgraded Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price objective on the stock in a report on Thursday, May 8th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $100.00 price objective (up previously from $90.00) on shares of Tapestry in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Tapestry has a consensus rating of "Moderate Buy" and a consensus price target of $89.17.

Insider Transactions at Tapestry

In related news, 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 directly owned 116,062 shares of the company's stock, valued at $9,447,446.80. The trade was a 25.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Manesh Dadlani sold 1,399 shares of the business's stock in a transaction dated 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 directly owned 40,922 shares of the company's stock, valued at approximately $3,350,693.36. This represents a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

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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