Stock Traders Purchase High Volume of Call Options on Tapestry (TPR)

Tapestry Inc (NYSE:TPR) was the recipient of some unusual options trading on Monday. Traders acquired 16,971 call options on the company. This represents an increase of 982% compared to the average volume of 1,568 call options.

In other Tapestry news, CEO Victor Luis sold 123,780 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $50.02, for a total transaction of $6,191,475.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sarah Dunn sold 6,229 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $48.23, for a total value of $300,424.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,366 shares of company stock worth $6,705,960. Company insiders own 0.98% of the company’s stock.

Large investors have recently made changes to their positions in the business. Hexavest Inc. acquired a new stake in Tapestry during the fourth quarter worth about $106,000. First Dallas Securities Inc. acquired a new stake in Tapestry during the fourth quarter worth about $108,000. Dupont Capital Management Corp acquired a new stake in Tapestry during the fourth quarter worth about $110,000. Cerebellum GP LLC acquired a new stake in Tapestry during the fourth quarter worth about $118,000. Finally, American Research & Management Co. acquired a new stake in Tapestry during the fourth quarter worth about $129,000. Institutional investors own 87.97% of the company’s stock.

Tapestry (TPR) traded up $0.01 during trading on Thursday, reaching $50.50. The company had a trading volume of 835,312 shares, compared to its average volume of 3,023,671. The firm has a market capitalization of $14,284.00, a price-to-earnings ratio of 45.18, a P/E/G ratio of 1.73 and a beta of 0.59. 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 has a 52-week low of $37.53 and a 52-week high of $50.99.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.77 billion. Tapestry had a return on equity of 23.68% and a net margin of 6.14%. The firm’s revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 earnings per share. equities research analysts forecast that Tapestry will post 2.58 EPS for the current fiscal year.

A number of analysts have commented on TPR shares. TheStreet upgraded Tapestry from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Zacks Investment Research upgraded Tapestry from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Thursday, January 25th. William Blair reiterated a “buy” rating on shares of Tapestry in a research report on Saturday, October 21st. Canaccord Genuity set a $58.00 target price on Tapestry and gave the stock a “buy” rating in a research report on Sunday, January 7th. Finally, Robert W. Baird set a $50.00 price objective on Tapestry and gave the company a “buy” rating in a research report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $50.23.

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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.

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