Tapestry, Inc. (NYSE:TPR) Shares Sold by Gallacher Capital Management LLC

Gallacher Capital Management LLC decreased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 30.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,460 shares of the luxury accessories retailer’s stock after selling 1,483 shares during the quarter. Gallacher Capital Management LLC’s holdings in Tapestry were worth $226,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC grew its position in shares of Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after buying an additional 252 shares during the last quarter. Brooklyn Investment Group acquired a new position in Tapestry during the 3rd quarter worth approximately $47,000. UMB Bank n.a. raised its position in Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after acquiring an additional 496 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Tapestry by 13.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock worth $104,000 after buying an additional 182 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. boosted its position in shares of Tapestry by 159,100.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after buying an additional 1,591 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TPR. Telsey Advisory Group upped their price objective on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Evercore ISI lifted their price objective on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Guggenheim lifted their price target on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, UBS Group increased their price objective on shares of Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.53.

Tapestry Stock Performance

TPR opened at $70.48 on Monday. The firm has a market cap of $14.59 billion, a PE ratio of 20.43, a P/E/G ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The business has a fifty day simple moving average of $76.73 and a 200-day simple moving average of $60.86.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm earned $1.63 EPS. As a group, equities analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, March 6th. Tapestry’s payout ratio is presently 40.58%.

Insider Transactions at Tapestry

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the transaction, the general counsel now owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd Kahn sold 7,786 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the sale, the chief executive officer now owns 201,531 shares of the company’s stock, valued at $17,652,100.29. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 corporate insiders.

About Tapestry

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.