Blue Trust Inc. Has $35,000 Position in Tapestry, Inc. (NYSE:TPR)

Blue Trust Inc. lessened its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 75.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 542 shares of the luxury accessories retailer’s stock after selling 1,638 shares during the period. Blue Trust Inc.’s holdings in Tapestry were worth $35,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TPR. Victory Capital Management Inc. raised its position in shares of Tapestry by 7.5% in the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock valued at $20,381,000 after acquiring an additional 30,121 shares during the period. Apollon Wealth Management LLC bought a new stake in Tapestry in the fourth quarter valued at approximately $328,000. Valley Wealth Managers Inc. raised its holdings in Tapestry by 2.1% in the third quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock worth $19,971,000 after purchasing an additional 8,833 shares during the period. Decker Retirement Planning Inc. bought a new position in shares of Tapestry during the fourth quarter worth $3,437,000. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Tapestry by 14.8% in the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after acquiring an additional 219,544 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 2.6 %

Shares of Tapestry stock opened at $84.30 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The business has a fifty day simple moving average of $74.36 and a two-hundred day simple moving average of $57.79. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The company has a market capitalization of $17.45 billion, a price-to-earnings ratio of 24.43, a P/E/G ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the previous year, the firm posted $1.63 earnings per share. Research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

Insider Activity

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

Wall Street Analyst Weigh In

TPR has been the subject of a number of recent research reports. Redburn Atlantic raised Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Tuesday, February 18th. Robert W. Baird increased their target price on shares of Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. UBS Group lifted their price target on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Guggenheim increased their price objective on shares of Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Barclays raised their price objective on Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.53.

Tapestry 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.