Toronto Dominion Bank Has $3.15 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Toronto Dominion Bank trimmed its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 46.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,204 shares of the luxury accessories retailer's stock after selling 41,432 shares during the quarter. Toronto Dominion Bank's holdings in Tapestry were worth $3,149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Coppell Advisory Solutions LLC grew its stake in shares of Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after purchasing an additional 150 shares during the period. Checchi Capital Advisers LLC grew its position in Tapestry by 1.9% in 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 period. Robeco Institutional Asset Management B.V. grew its position in Tapestry by 0.9% in 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 period. Parkside Financial Bank & Trust raised its stake 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 worth $104,000 after acquiring an additional 182 shares in the last quarter. Finally, E Fund Management Co. Ltd. lifted its holdings in shares of Tapestry by 1.6% during the fourth quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer's stock valued at $833,000 after acquiring an additional 200 shares during the period. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Down 1.0%

NYSE:TPR opened at $78.96 on Friday. 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 12-month low of $35.23 and a 12-month high of $90.85. The stock's fifty day simple moving average is $71.34 and its 200-day simple moving average is $69.91. The firm has a market capitalization of $16.40 billion, a P/E ratio of 22.89, a P/E/G ratio of 2.01 and a beta of 1.41.

Tapestry (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.14. The firm had revenue of $1.58 billion for 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 quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. Equities research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, June 6th. Tapestry's payout ratio is 36.84%.

Insider Activity at Tapestry

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of Tapestry stock in a transaction dated 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 directly owns 116,062 shares in the company, valued at approximately $9,447,446.80. The trade was a 25.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Manesh Dadlani sold 1,399 shares of the stock in a transaction dated Monday, May 12th. The stock was 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 now owns 40,922 shares of the company's stock, valued at $3,350,693.36. This trade represents a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,506 shares of company stock worth $5,143,538. 1.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TPR shares. Telsey Advisory Group reiterated an "outperform" rating and set a $92.00 target price on shares of Tapestry in a research report on Friday, May 9th. 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 report on Friday, May 9th. Wells Fargo & Company reissued 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. Robert W. Baird boosted their target price on shares of Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Tapestry currently has an average rating of "Moderate Buy" and a consensus price target of $83.89.

About Tapestry

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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