Victor Luis Sells 123,780 Shares of Tapestry Inc (TPR) Stock

Tapestry Inc (NYSE:TPR) CEO Victor Luis sold 123,780 shares of Tapestry stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $50.02, for a total value of $6,191,475.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Tapestry Inc (NYSE TPR) traded up $0.34 during trading on Wednesday, hitting $50.49. The company had a trading volume of 2,590,000 shares, compared to its average volume of 3,130,000. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.90 and a quick ratio of 1.51. Tapestry Inc has a 1 year low of $37.53 and a 1 year high of $50.99. The firm has a market cap of $14,360.00, a P/E ratio of 45.08, a P/E/G ratio of 1.73 and a beta of 0.59.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.21. Tapestry had a return on equity of 23.68% and a net margin of 6.14%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm posted $0.75 EPS. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. equities research analysts expect that Tapestry Inc will post 2.56 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of Tapestry in a report on Tuesday, February 6th. TheStreet raised Tapestry from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Barclays lifted their price objective on Tapestry from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. ValuEngine raised Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Finally, BMO Capital Markets lifted their price objective on Tapestry from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Tapestry presently has a consensus rating of “Buy” and an average price target of $50.23.

Several institutional investors have recently modified their holdings of the stock. TIAA CREF Investment Management LLC acquired a new position in shares of Tapestry during the 4th quarter worth approximately $68,164,000. Teachers Advisors LLC acquired a new position in Tapestry in the 4th quarter valued at $60,517,000. Raymond James & Associates acquired a new position in Tapestry in the 4th quarter valued at $6,470,000. Teachers Retirement System of The State of Kentucky acquired a new position in Tapestry in the 4th quarter valued at $1,384,000. Finally, HBK Investments L P acquired a new position in Tapestry in the 4th quarter valued at $5,073,000. Hedge funds and other institutional investors own 87.97% of the company’s stock.

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Tapestry Company Profile

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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