Tapestry, Inc. (NYSE:TPR) Shares Sold by Wilsey Asset Management Inc.

Wilsey Asset Management Inc. lowered its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 46.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 401,459 shares of the luxury accessories retailer's stock after selling 349,549 shares during the quarter. Tapestry comprises about 5.7% of Wilsey Asset Management Inc.'s holdings, making the stock its 11th largest position. Wilsey Asset Management Inc. owned 0.19% of Tapestry worth $28,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of TPR. Greenline Partners LLC purchased a new stake in Tapestry in the fourth quarter valued at approximately $29,000. Coppell Advisory Solutions LLC boosted its holdings 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 last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Tapestry in the 1st quarter valued at $35,000. Venturi Wealth Management LLC grew its stake in shares of Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after buying an additional 252 shares during the period. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Tapestry during the 4th quarter worth $48,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TPR shares. Redburn Atlantic upgraded Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 target price on the stock in a report on Tuesday, February 18th. Argus raised their price objective on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday. TD Cowen raised Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Thursday, June 12th. Robert W. Baird boosted 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. Finally, Citigroup raised their price target on shares of Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.78.

Insider Transactions at Tapestry

In other news, 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 transaction of $3,256,000.00. Following the transaction, the chief executive officer now directly owns 116,062 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Manesh Dadlani sold 1,399 shares of the company's stock in a transaction dated 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 now directly owns 40,922 shares of the company's stock, 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. Insiders own 1.18% of the company's stock.

Tapestry Stock Performance

TPR stock traded up $1.48 during mid-day trading on Wednesday, reaching $84.24. The company had a trading volume of 3,571,151 shares, compared to its average volume of 4,288,806. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $17.50 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.87 and a beta of 1.46. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The stock's 50-day simple moving average is $74.95 and its two-hundred day simple moving average is $73.00.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 12.50% and a return on equity of 51.84%. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS. Research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.66%. Tapestry's dividend payout ratio (DPR) is presently 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.