Tapestry Inc (TPR) CAO Sells $214,059.41 in Stock

Tapestry Inc (NYSE:TPR) CAO Todd Kahn sold 4,357 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $49.13, for a total transaction of $214,059.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Tapestry Inc (NYSE:TPR) traded up $0.85 on Monday, reaching $49.91. 4,946,341 shares of the company’s stock were exchanged, compared to its average volume of 2,980,000. Tapestry Inc has a one year low of $37.53 and a one year high of $50.71. The company has a quick ratio of 1.51, a current ratio of 1.90 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $14,190.00, a PE ratio of 44.56, a price-to-earnings-growth ratio of 1.70 and a beta of 0.59.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.21. Tapestry had a net margin of 6.14% and a return on equity of 23.68%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the company earned $0.75 earnings per share. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. analysts predict that Tapestry Inc will post 2.56 earnings per share for the current year.

Several equities research analysts have weighed in on TPR shares. Zacks Investment Research downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Susquehanna Bancshares assumed coverage on shares of Tapestry in a research note on Thursday, November 2nd. They set a “positive” rating and a $50.00 price objective for the company. Citigroup assumed coverage on shares of Tapestry in a research note on Thursday, November 2nd. They set a “positive” rating and a $50.00 price objective for the company. William Blair reiterated a “buy” rating on shares of Tapestry in a research note on Saturday, October 21st. Finally, Canaccord Genuity set a $58.00 price objective on shares of Tapestry and gave the stock a “buy” rating in a research note on Sunday, January 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Tapestry has an average rating of “Buy” and a consensus price target of $50.23.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPR. BlackRock Inc. purchased a new position in Tapestry in the fourth quarter valued at $791,257,000. American International Group Inc. purchased a new stake in shares of Tapestry during the fourth quarter worth about $543,498,000. American Century Companies Inc. purchased a new stake in shares of Tapestry during the fourth quarter worth about $287,354,000. Jennison Associates LLC purchased a new stake in shares of Tapestry during the fourth quarter worth about $181,887,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Tapestry during the fourth quarter worth about $145,882,000. 87.97% of the stock is owned by institutional investors.

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About Tapestry

Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.

Insider Buying and Selling by Quarter for Tapestry (NYSE:TPR)

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