Winslow Asset Management Inc. Sells 7,141 Shares of Tapestry, Inc. (NYSE:TPR)

Winslow Asset Management Inc. trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 6.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,218 shares of the luxury accessories retailer's stock after selling 7,141 shares during the period. Tapestry accounts for approximately 1.6% of Winslow Asset Management Inc.'s holdings, making the stock its 26th largest holding. Winslow Asset Management Inc. owned approximately 0.05% of Tapestry worth $7,479,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its position in shares of Tapestry by 4.8% in the fourth quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock valued at $527,799,000 after acquiring an additional 370,784 shares during the last quarter. Geode Capital Management LLC raised its stake in Tapestry by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock worth $376,247,000 after purchasing an additional 176,717 shares in the last quarter. Alliancebernstein L.P. increased its stake in Tapestry by 15.2% during the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after acquiring an additional 546,497 shares during the period. Northern Trust Corp grew its holdings in shares of Tapestry by 3.0% during the 4th quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock worth $183,909,000 after purchasing an additional 83,222 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Tapestry by 593.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock worth $143,198,000 after purchasing an additional 1,875,753 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Argus increased their target price on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Telsey Advisory Group reissued an "outperform" rating and issued a $92.00 price target on shares of Tapestry in a research note on Friday, May 9th. TD Cowen raised Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Thursday, June 12th. Barclays reaffirmed an "overweight" rating and set a $105.00 target price (up previously from $98.00) on shares of Tapestry in a research note on Friday. Finally, Cowen upgraded Tapestry from a "hold" rating to a "buy" rating in a report on Thursday, June 12th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $89.17.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 1,399 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $81.88, for a total transaction of $114,550.12. Following the sale, the vice president directly owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Kahn sold 40,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $81.40, for a total transaction of $3,256,000.00. Following the sale, the chief executive officer directly owned 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 disclosure for this sale can be found here. Corporate insiders own 1.18% of the company's stock.

Tapestry Price Performance

Shares of NYSE:TPR opened at $101.70 on Tuesday. The stock has a market capitalization of $21.12 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.03 and a beta of 1.47. Tapestry, Inc. has a one year low of $35.23 and a one year high of $101.80. The company has a 50-day simple moving average of $83.08 and a 200-day simple moving average of $76.28. 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 (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 12.50% and a return on equity of 51.84%. Tapestry's revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 earnings per share. On average, analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.38%. Tapestry's dividend payout ratio is presently 36.84%.

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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