Tapestry, Inc. (NYSE:TPR) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lessened its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 47.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,769,685 shares of the luxury accessories retailer's stock after selling 1,617,030 shares during the period. AQR Capital Management LLC owned 0.85% of Tapestry worth $115,614,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Coppell Advisory Solutions LLC increased its stake in shares of Tapestry by 40.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after acquiring an additional 150 shares during the period. Checchi Capital Advisers LLC boosted its stake in Tapestry by 1.9% during the 4th quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer's stock valued at $580,000 after purchasing an additional 163 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Tapestry by 0.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer's stock valued at $1,261,000 after purchasing an additional 170 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Tapestry by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer's stock worth $104,000 after buying an additional 182 shares in the last quarter. Finally, E Fund Management Co. Ltd. lifted its holdings in shares of Tapestry by 1.6% in the fourth quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer's stock valued at $833,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TPR shares. Morgan Stanley reaffirmed an "equal weight" rating and set a $65.00 target price on shares of Tapestry in a report on Tuesday, January 21st. Guggenheim boosted their target price on shares of Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Raymond James restated an "outperform" rating and set a $88.00 target price (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. Redburn Atlantic raised Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target on the stock in a report on Tuesday, February 18th. Finally, Barclays reduced their price objective on Tapestry from $100.00 to $83.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.26.

Insider Buying and Selling

In related news, 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 transaction of $2,226,929.12. Following the completion of the sale, the chief financial officer now directly owns 146,587 shares of the company's stock, valued at approximately $12,688,570.72. This represents a 14.93 % 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 7,786 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the completion of the transaction, the chief executive officer now owns 201,531 shares in the company, valued at $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,537 shares of company stock worth $5,730,589. Corporate insiders own 1.18% of the company's stock.

Tapestry Price Performance

TPR opened at $69.98 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. 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 price of $71.42 and a 200 day moving average price of $66.34. The stock has a market cap of $14.49 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 2.01 and a beta of 1.37.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating the consensus estimate 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 period in the previous year, the business posted $1.63 earnings per share. Analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's payout ratio is presently 40.58%.

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.

Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry, Inc. (NYSE:TPR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.