Tapestry, Inc. (NYSE:TPR) Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH lessened its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 19.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 184,264 shares of the luxury accessories retailer's stock after selling 45,354 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.09% of Tapestry worth $12,974,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Tapestry in the 4th quarter valued at approximately $271,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Tapestry in the 4th quarter valued at approximately $3,508,000. Fox Run Management L.L.C. purchased a new stake in shares of Tapestry in the 4th quarter valued at approximately $339,000. LPL Financial LLC raised its stake in shares of Tapestry by 1.5% in the 4th quarter. LPL Financial LLC now owns 122,258 shares of the luxury accessories retailer's stock valued at $7,987,000 after acquiring an additional 1,791 shares during the period. Finally, Corebridge Financial Inc. raised its stake in shares of Tapestry by 3.3% in the 4th quarter. Corebridge Financial Inc. now owns 59,055 shares of the luxury accessories retailer's stock valued at $3,858,000 after acquiring an additional 1,902 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on TPR. The Goldman Sachs Group raised their price objective on shares of Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Argus upped their target price on shares of Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. UBS Group upped their target price on shares of Tapestry from $68.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Wall Street Zen lowered shares of Tapestry from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Morgan Stanley upgraded shares of Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 target price on the stock in a research note on Thursday, May 8th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and a consensus price target of $90.83.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 1,399 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $81.88, for a total transaction of $114,550.12. Following the completion of the sale, the vice president directly owned 40,922 shares in the company, valued at approximately $3,350,693.36. The trade was a 3.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Kahn sold 40,000 shares of the firm's 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 directly owned 116,062 shares of the company's stock, valued at $9,447,446.80. This trade represents a 25.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Tapestry Price Performance

NYSE:TPR traded down $0.06 during trading hours on Friday, reaching $108.37. The stock had a trading volume of 3,518,510 shares, compared to its average volume of 3,935,325. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.22 and a current ratio of 1.76. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $110.22. The company has a 50 day moving average price of $88.21 and a two-hundred day moving average price of $78.80. The stock has a market capitalization of $22.51 billion, a PE ratio of 28.52, a PEG ratio of 2.24 and a beta of 1.47.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly 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. Tapestry had a net margin of 12.50% and a return on equity of 51.84%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company's revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, June 6th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.29%. Tapestry's payout ratio is currently 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.