Stock Traders Buy Large Volume of Tapestry Call Options (NYSE:TPR)

Tapestry, Inc. (NYSE:TPR) was the recipient of some unusual options trading activity on Monday. Investors acquired 16,433 call options on the company. This is an increase of approximately 87% compared to the typical daily volume of 8,772 call options.

Insider Buying and Selling at Tapestry

In other news, General Counsel David E. Howard sold 11,917 shares of the company’s stock in a transaction dated 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 transaction, the general counsel now directly owns 38,609 shares of the company’s stock, valued at $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Scott A. Roe sold 25,727 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the transaction, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at approximately $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 quarter, insiders have sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Greenline Partners LLC bought a new stake in Tapestry during the 4th quarter worth approximately $29,000. Coppell Advisory Solutions LLC lifted its holdings 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 worth $34,000 after purchasing an additional 150 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after purchasing an additional 252 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Tapestry in the third quarter valued at $47,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in Tapestry during the 4th quarter worth $48,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of TPR traded down $4.48 during midday trading on Monday, hitting $70.44. The company’s stock had a trading volume of 2,680,623 shares, compared to its average volume of 3,660,538. 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 has a one year low of $35.23 and a one year high of $90.85. The stock has a market capitalization of $14.58 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. The company’s fifty day simple moving average is $76.22 and its two-hundred day simple moving average is $59.80.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping 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 quarter in the prior year, the business earned $1.63 earnings per share. As a group, equities analysts expect that Tapestry will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Jefferies Financial Group raised their target price on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. BMO Capital Markets upped their price objective on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. Telsey Advisory Group increased their price target on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group upped their price objective on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and an average price target of $78.53.

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.