Signet Financial Management LLC Sells 4,373 Shares of Tapestry, Inc. (NYSE:TPR)

Signet Financial Management LLC reduced its stake in Tapestry, Inc. (NYSE:TPR) by 16.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,667 shares of the luxury accessories retailer’s stock after selling 4,373 shares during the period. Signet Financial Management LLC’s holdings in Tapestry were worth $1,481,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TPR. Friedenthal Financial purchased a new stake in Tapestry in the fourth quarter worth about $802,000. Wedmont Private Capital purchased a new position in Tapestry during the fourth quarter valued at approximately $253,000. Reinhart Partners LLC. bought a new position in shares of Tapestry in the fourth quarter worth about $5,969,000. Czech National Bank grew its stake in Tapestry by 7.7% during the fourth quarter. Czech National Bank now owns 50,527 shares of the luxury accessories retailer’s stock valued at $3,301,000 after acquiring an additional 3,629 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Tapestry by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 71,845 shares of the luxury accessories retailer’s stock worth $4,694,000 after purchasing an additional 898 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the transaction, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.18% of the company’s stock.

Tapestry Stock Performance

Shares of NYSE:TPR traded down $0.37 during midday trading on Monday, reaching $66.78. The company’s stock had a trading volume of 3,972,487 shares, compared to its average volume of 4,018,683. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The stock has a fifty day moving average of $61.02 and a 200 day moving average of $49.03. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $69.09. The firm has a market capitalization of $15.56 billion, a PE ratio of 19.30, a P/E/G ratio of 1.80 and a beta of 1.58.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Friday, December 6th. Tapestry’s dividend payout ratio is currently 40.46%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TPR shares. Daiwa America raised shares of Tapestry to a “hold” rating in a report on Monday, November 18th. JPMorgan Chase & Co. upped their target price on shares of Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Robert W. Baird increased their target price on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. BMO Capital Markets upped their target price on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. Finally, UBS Group boosted their target price on shares of Tapestry from $57.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.76.

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.