Westwood Holdings Group Inc. Sells 375,037 Shares of Tapestry, Inc. (NYSE:TPR)

Westwood Holdings Group Inc. lowered its position in Tapestry, Inc. (NYSE:TPR) by 57.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 280,086 shares of the luxury accessories retailer’s stock after selling 375,037 shares during the quarter. Westwood Holdings Group Inc. owned approximately 0.12% of Tapestry worth $18,298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Twinbeech Capital LP boosted its stake in shares of Tapestry by 204.8% during the fourth quarter. Twinbeech Capital LP now owns 122,674 shares of the luxury accessories retailer’s stock valued at $8,014,000 after purchasing an additional 82,432 shares in the last quarter. Tabor Asset Management LP bought a new stake in Tapestry during the 4th quarter valued at $5,441,000. Tenzing Global Management LLC bought a new stake in Tapestry during the 4th quarter valued at $4,736,000. Texas Bank & Trust Co bought a new stake in shares of Tapestry in the 4th quarter valued at about $259,000. Finally, Systematic Financial Management LP boosted its holdings in shares of Tapestry by 2.6% in the 4th quarter. Systematic Financial Management LP now owns 405,659 shares of the luxury accessories retailer’s stock valued at $26,502,000 after buying an additional 10,343 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 1,399 shares of Tapestry stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $81.88, for a total transaction of $114,550.12. Following the completion of the transaction, the vice president now directly owns 40,922 shares of the company’s stock, valued at $3,350,693.36. The trade was a 3.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This trade represents a 23.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,936 shares of company stock worth $9,101,139 over the last quarter. 1.18% of the stock is currently owned by insiders.

Tapestry Stock Down 0.7%

TPR stock opened at $82.28 on Tuesday. The firm’s fifty day simple moving average is $70.74 and its 200-day simple moving average is $69.54. The company has a market capitalization of $17.09 billion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.89 by $0.14. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm earned $0.81 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be paid a $0.35 dividend. 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 payout ratio is 36.84%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TPR shares. Robert W. Baird raised their price target on shares of Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. The Goldman Sachs Group raised their price objective on Tapestry from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Evercore ISI raised their price target on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Redburn Atlantic raised Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a report on Tuesday, February 18th. Finally, UBS Group raised their price target on Tapestry from $68.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.89.

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.