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

Toronto Dominion Bank decreased its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 46.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. 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 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC acquired a new position in shares of Tapestry during the 4th quarter valued at about $328,000. Charles Schwab Investment Management Inc. boosted its position in Tapestry by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock worth $522,471,000 after purchasing an additional 382,856 shares during the period. Abacus FCF Advisors LLC grew its holdings in Tapestry by 46.2% during the fourth quarter. Abacus FCF Advisors LLC now owns 45,487 shares of the luxury accessories retailer's stock valued at $2,972,000 after purchasing an additional 14,384 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Tapestry by 14.6% during the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer's stock valued at $20,195,000 after purchasing an additional 39,298 shares during the last quarter. Finally, Pzena Investment Management LLC bought a new position in shares of Tapestry in the fourth quarter valued at approximately $18,737,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Transactions at Tapestry

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of the firm's 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 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Manesh Dadlani sold 1,399 shares of the business's 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 transaction, the vice president now owns 40,922 shares of the company's stock, valued at $3,350,693.36. The trade was 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 owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Morgan Stanley raised shares of Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price objective for the company in a report on Thursday, May 8th. Citigroup boosted their price objective on Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Robert W. Baird increased their target price on Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. The Goldman Sachs Group boosted their price target on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Guggenheim increased their price objective on Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Tapestry presently has a consensus rating of "Moderate Buy" and an average target price of $83.89.

Tapestry Trading Up 0.1%

TPR stock traded up $0.08 during trading on Monday, hitting $78.63. The company had a trading volume of 2,611,483 shares, compared to its average volume of 4,255,508. The firm has a 50-day moving average price of $71.96 and a 200-day moving average price of $71.29. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The stock has a market cap 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 released its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.89 by $0.14. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the firm earned $0.81 EPS. The business's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

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