Tidal Investments LLC Sells 6,018 Shares of Tapestry, Inc. (NYSE:TPR)

Tidal Investments LLC decreased its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 22.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,383 shares of the luxury accessories retailer's stock after selling 6,018 shares during the quarter. Tidal Investments LLC's holdings in Tapestry were worth $1,397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. lifted its stake in shares of Tapestry by 72.9% in the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock worth $77,000 after purchasing an additional 496 shares during the period. Atomi Financial Group Inc. increased its holdings in Tapestry by 18.5% during the fourth quarter. Atomi Financial Group Inc. now owns 5,716 shares of the luxury accessories retailer's stock valued at $373,000 after buying an additional 892 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Tapestry in the fourth quarter worth approximately $333,000. Avior Wealth Management LLC boosted its stake in shares of Tapestry by 34.1% during the 4th quarter. Avior Wealth Management LLC now owns 15,993 shares of the luxury accessories retailer's stock worth $1,045,000 after acquiring an additional 4,069 shares during the last quarter. Finally, DGS Capital Management LLC bought a new stake in shares of Tapestry during the 4th quarter valued at $256,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TPR has been the topic of several analyst reports. Barclays lifted their target price on Tapestry from $83.00 to $98.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Robert W. Baird boosted their price objective on Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Wall Street Zen upgraded shares of Tapestry from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Redburn Atlantic upgraded shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target for the company in a research report on Tuesday, February 18th. Finally, Morgan Stanley upgraded shares of Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price objective on the stock in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Tapestry presently has an average rating of "Moderate Buy" and an average target price of $83.89.

Insider Activity

In other Tapestry news, VP Manesh Dadlani sold 1,399 shares of the company's stock in a transaction on Monday, May 12th. The stock was 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 of the company's stock, valued at $3,350,693.36. This represents a 3.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Todd Kahn sold 40,000 shares of the stock in a transaction on 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 now owns 116,062 shares in the company, valued at approximately $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.

Tapestry Price Performance

Shares of NYSE TPR traded up $0.20 during mid-day trading on Friday, hitting $78.64. 352,623 shares of the company's stock traded hands, compared to its average volume of 4,241,484. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The company's 50-day moving average is $71.89 and its two-hundred day moving average is $70.87. The company has a market capitalization of $16.33 billion, a P/E ratio of 22.85, a PEG ratio of 2.01 and a beta of 1.41.

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, beating the consensus estimate of $0.89 by $0.14. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates 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 last year, the company earned $0.81 EPS. On average, equities analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company 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. This represents a $1.40 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Friday, June 6th. Tapestry's dividend payout ratio (DPR) is 36.84%.

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.