Tapestry, Inc. (NYSE:TPR) Shares Sold by First Hawaiian Bank

First Hawaiian Bank lowered its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 29.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,117 shares of the luxury accessories retailer's stock after selling 5,537 shares during the period. First Hawaiian Bank's holdings in Tapestry were worth $924,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Greenline Partners LLC purchased a new stake in shares of Tapestry during the 4th quarter worth $29,000. Coppell Advisory Solutions LLC boosted its holdings in Tapestry by 40.7% during 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 in the last quarter. Venturi Wealth Management LLC boosted its holdings in Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after buying an additional 252 shares in the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in Tapestry during the fourth quarter worth about $48,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Tapestry by 25.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock valued at $68,000 after buying an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

TPR has been the topic of several research analyst reports. UBS Group boosted their price target on Tapestry from $68.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $92.00 price objective on shares of Tapestry in a report on Friday, May 9th. Wells Fargo & Company reissued an "overweight" rating and issued a $100.00 target price (up previously from $90.00) on shares of Tapestry in a report on Wednesday, May 14th. The Goldman Sachs Group raised their price target on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Redburn Atlantic raised Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target for the company in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, Tapestry currently has an average rating of "Moderate Buy" and a consensus target price of $83.89.

Tapestry Trading Up 0.3%

Shares of TPR traded up $0.21 on Tuesday, hitting $78.77. 2,504,514 shares of the stock traded hands, compared to its average volume of 4,248,567. The firm has a market capitalization of $16.36 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.01 and a beta of 1.41. 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 stock's 50 day moving average is $72.06 and its two-hundred day moving average is $71.44.

Tapestry (NYSE:TPR - Get Free Report) last posted 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 business's revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 earnings per share. As a group, sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

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

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of Tapestry 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 transaction, the chief executive officer now owns 116,062 shares in the company, valued at $9,447,446.80. This trade represents a 25.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Manesh Dadlani sold 1,399 shares of Tapestry 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 completion of the transaction, the vice president now owns 40,922 shares in the company, valued at $3,350,693.36. The trade was a 3.31% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by company insiders.

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.