Tapestry, Inc. (NYSE:TPR) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers cut its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,603 shares of the luxury accessories retailer's stock after selling 6,063 shares during the period. Cetera Investment Advisers' holdings in Tapestry were worth $3,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of TPR. Bridgefront Capital LLC raised its stake in shares of Tapestry by 37.8% during the fourth quarter. Bridgefront Capital LLC now owns 13,275 shares of the luxury accessories retailer's stock valued at $867,000 after acquiring an additional 3,641 shares in the last quarter. C Partners Holding GmbH increased its stake in shares of Tapestry by 232.4% during the fourth quarter. C Partners Holding GmbH now owns 519,121 shares of the luxury accessories retailer's stock valued at $33,914,000 after buying an additional 362,960 shares during the period. Cantor Fitzgerald L. P. bought a new stake in shares of Tapestry in the fourth quarter valued at about $1,120,000. Captrust Financial Advisors grew its holdings in Tapestry by 17.8% during the 4th quarter. Captrust Financial Advisors now owns 26,515 shares of the luxury accessories retailer's stock worth $1,732,000 after acquiring an additional 4,010 shares in the last quarter. Finally, Caxton Associates LP increased its holdings in Tapestry by 35.3% during the fourth quarter. Caxton Associates LP now owns 23,307 shares of the luxury accessories retailer's stock valued at $1,523,000 after buying an additional 6,078 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Buying and Selling

In related news, CEO Todd Kahn sold 40,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 116,062 shares of the company's stock, valued at $9,447,446.80. This trade represents a 25.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the chief financial officer now directly owns 146,587 shares in the company, 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. Insiders sold 107,936 shares of company stock valued at $9,101,139 over the last ninety days. Corporate insiders own 1.18% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on TPR. Telsey Advisory Group restated an "outperform" rating and set a $92.00 target price on shares of Tapestry in a research note on Friday, May 9th. The Goldman Sachs Group boosted their price target on Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Citigroup increased their price objective on shares of Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, UBS Group boosted their price target 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. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $83.89.

Tapestry Stock Performance

TPR traded up $0.09 during trading on Tuesday, hitting $82.46. 2,343,521 shares of the stock were exchanged, compared to its average volume of 4,211,353. The firm has a market capitalization of $17.13 billion, a P/E ratio of 23.90, a PEG ratio of 2.01 and a beta of 1.41. 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 $70.74 and a two-hundred day moving average price of $69.54. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly 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 return on equity of 44.00% and a net margin of 11.74%. The business's revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $0.81 earnings per share. As a group, sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be paid 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 1.70%. Tapestry's dividend payout ratio (DPR) is 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.