MGO One Seven LLC Sells 26,816 Shares of Tapestry, Inc. (NYSE:TPR)

MGO One Seven LLC lowered its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 40.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,917 shares of the luxury accessories retailer's stock after selling 26,816 shares during the quarter. MGO One Seven LLC's holdings in Tapestry were worth $2,608,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of TPR. Wilmington Savings Fund Society FSB acquired a new stake in shares of Tapestry in the 3rd quarter valued at $333,000. Tidal Investments LLC increased its holdings in Tapestry by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 27,401 shares of the luxury accessories retailer's stock worth $1,287,000 after purchasing an additional 481 shares in the last quarter. Franklin Resources Inc. raised its position in Tapestry by 10.6% in the third quarter. Franklin Resources Inc. now owns 163,234 shares of the luxury accessories retailer's stock valued at $7,442,000 after purchasing an additional 15,585 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Tapestry by 1.0% during the third quarter. Retirement Systems of Alabama now owns 51,180 shares of the luxury accessories retailer's stock valued at $2,404,000 after purchasing an additional 493 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Tapestry by 23.8% during the fourth quarter. GAMMA Investing LLC now owns 7,544 shares of the luxury accessories retailer's stock worth $493,000 after purchasing an additional 1,449 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analyst Weigh In

TPR has been the topic of several research reports. Evercore ISI boosted their price target on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Telsey Advisory Group lifted their price objective on Tapestry from $74.00 to $83.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Morgan Stanley reaffirmed an "equal weight" rating and issued a $65.00 price objective on shares of Tapestry in a research note on Tuesday, January 21st. Citigroup cut their price objective on Tapestry from $95.00 to $81.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.26.

Tapestry Stock Up 0.2 %

Shares of NYSE:TPR traded up $0.15 during trading on Tuesday, reaching $69.41. 797,780 shares of the stock were exchanged, compared to its average volume of 4,160,003. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $90.85. The stock has a fifty day moving average of $71.75 and a two-hundred day moving average of $66.31. The firm has a market cap of $14.37 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter last year, the business earned $1.63 EPS. Research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 2.02%. Tapestry's dividend payout ratio (DPR) is currently 40.58%.

Insider Buying and Selling

In related news, General Counsel David E. Howard sold 11,917 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Scott A. Roe sold 25,727 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the transaction, the chief financial officer now owns 146,587 shares of the company's stock, valued at $12,688,570.72. This trade represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is owned by corporate insiders.

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.