Tapestry, Inc. (NYSE:TPR) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. reduced its stake in Tapestry, Inc. (NYSE:TPR) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,587 shares of the luxury accessories retailer’s stock after selling 1,572 shares during the period. Foster & Motley Inc.’s holdings in Tapestry were worth $1,868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Waldron Private Wealth LLC acquired a new stake in Tapestry during the third quarter valued at approximately $25,000. Brooklyn Investment Group acquired a new stake in Tapestry during the third quarter valued at approximately $47,000. UMB Bank n.a. lifted its stake in Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after purchasing an additional 496 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its stake in Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after purchasing an additional 605 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Tapestry during the second quarter valued at approximately $68,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the transaction, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. This represents a 20.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.18% of the stock is currently owned by company insiders.

Tapestry Stock Up 1.9 %

Tapestry stock opened at $75.80 on Friday. The firm’s 50 day moving average price is $66.27 and its two-hundred day moving average price is $51.87. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $76.49. The firm has a market cap of $17.66 billion, a PE ratio of 21.91, a P/E/G ratio of 2.07 and a beta of 1.58. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.85%. Tapestry’s dividend payout ratio (DPR) is 40.46%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TPR. Daiwa America raised shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company increased their target price on shares of Tapestry from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Jefferies Financial Group upped their price target on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday. Raymond James restated an “outperform” rating and issued a $57.00 price target (up previously from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Finally, Citigroup upped their price target on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.56.

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.