99,437 Tapestry, Inc. $TPR Shares Sold by Candriam S.C.A.

Candriam S.C.A. decreased its holdings in Tapestry, Inc. (NYSE:TPR) by 53.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 85,527 shares of the luxury accessories retailer’s stock after selling 99,437 shares during the quarter. Candriam S.C.A.’s holdings in Tapestry were worth $9,875,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Ethos Capital Management Inc. grew its position in Tapestry by 7.0% in the third quarter. Ethos Capital Management Inc. now owns 17,616 shares of the luxury accessories retailer’s stock valued at $2,027,000 after acquiring an additional 1,149 shares during the last quarter. Alps Advisors Inc. raised its stake in Tapestry by 26.2% during the third quarter. Alps Advisors Inc. now owns 7,213 shares of the luxury accessories retailer’s stock worth $830,000 after acquiring an additional 1,497 shares in the last quarter. Heritage Family Offices LLP bought a new position in shares of Tapestry in the third quarter worth about $66,000. Allegiance Financial Group Advisory Services LLC lifted its holdings in shares of Tapestry by 4.3% in the third quarter. Allegiance Financial Group Advisory Services LLC now owns 3,113 shares of the luxury accessories retailer’s stock worth $358,000 after acquiring an additional 128 shares during the last quarter. Finally, Rakuten Investment Management Inc. lifted its holdings in shares of Tapestry by 8.7% in the third quarter. Rakuten Investment Management Inc. now owns 35,961 shares of the luxury accessories retailer’s stock worth $4,104,000 after acquiring an additional 2,890 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tapestry news, CEO Joanne Crevoiserat sold 27,761 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the transaction, the chief executive officer owned 666,149 shares in the company, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Denise Kulikowsky sold 5,810 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total transaction of $670,357.80. Following the completion of the sale, the insider directly owned 21,136 shares in the company, valued at approximately $2,438,671.68. This represents a 21.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.28% of the company’s stock.

Tapestry Stock Performance

Shares of Tapestry stock opened at $136.22 on Tuesday. The stock has a market cap of $27.16 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.58 and a beta of 1.44. Tapestry, Inc. has a twelve month low of $99.00 and a twelve month high of $164.80. The company’s fifty day moving average is $117.62 and its 200 day moving average is $136.97. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, November 5th. The luxury accessories retailer reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.26. Tapestry had a return on equity of 254.95% and a net margin of 19.09%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the firm posted $1.38 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts forecast that Tapestry, Inc. will post 8.29 EPS for the current year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Friday, December 4th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, December 4th. Tapestry’s dividend payout ratio is currently 23.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Tapestry from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday. Zacks Research cut shares of Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Tapestry from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Finally, Argus decreased their target price on shares of Tapestry from $165.00 to $148.00 and set a “buy” rating on the stock in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.72.

Tapestry Profile