Tapestry, Inc. (NYSE:TPR) Shares Sold by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. decreased its position in Tapestry, Inc. (NYSE:TPR) by 12.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,229 shares of the luxury accessories retailer’s stock after selling 3,966 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Tapestry were worth $1,988,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Greenline Partners LLC acquired a new position in Tapestry in the fourth quarter worth $29,000. Coppell Advisory Solutions LLC boosted its holdings in shares of Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after buying an additional 150 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of Tapestry in the 1st quarter valued at about $35,000. MorganRosel Wealth Management LLC acquired a new position in shares of Tapestry in the 1st quarter valued at about $35,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Tapestry in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling

In other news, CEO Todd Kahn sold 40,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $81.40, for a total value of $3,256,000.00. Following the completion of the sale, the chief executive officer directly owned 116,062 shares of the company’s stock, valued at $9,447,446.80. This represents a 25.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Manesh Dadlani sold 1,399 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $81.88, for a total transaction of $114,550.12. Following the completion of the sale, the vice president owned 40,922 shares of the company’s stock, valued at approximately $3,350,693.36. The trade was a 3.31% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by corporate insiders.

Tapestry Price Performance

Shares of NYSE:TPR opened at $90.73 on Friday. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The company has a market capitalization of $18.84 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.86 and a beta of 1.47. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.22 and a current ratio of 1.76. The stock has a fifty day moving average of $80.62 and a 200-day moving average of $75.14.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. Tapestry had a net margin of 12.50% and a return on equity of 51.84%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 earnings per share. As a group, equities analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 6th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Friday, June 6th. Tapestry’s dividend payout ratio (DPR) is 36.84%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. UBS Group boosted their price objective on Tapestry from $68.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Raymond James Financial reissued an “outperform” rating and set a $85.00 price target (up previously from $74.00) on shares of Tapestry in a report on Friday, May 9th. Citigroup boosted their price target on shares of Tapestry from $81.00 to $94.00 and gave the company a “buy” rating in a report on Friday, May 9th. The Goldman Sachs Group boosted their target price on shares of Tapestry from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Argus boosted their target price on shares of Tapestry from $78.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, June 17th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus target price of $88.78.

Tapestry 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.