12 West Capital Management LP Makes New Investment in Tapestry, Inc. (NYSE:TPR)

12 West Capital Management LP purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 250,000 shares of the luxury accessories retailer's stock, valued at approximately $16,332,000. Tapestry makes up 1.7% of 12 West Capital Management LP's investment portfolio, making the stock its 14th largest position. 12 West Capital Management LP owned approximately 0.11% of Tapestry at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TPR. Venturi Wealth Management LLC increased its holdings in shares of Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after buying an additional 252 shares during the last quarter. UMB Bank n.a. raised its position 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 in the last quarter. Brown Brothers Harriman & Co. lifted its stake in Tapestry by 1,792.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock worth $78,000 after purchasing an additional 1,129 shares during the last quarter. Atlas Capital Advisors Inc. boosted its holdings in shares of Tapestry by 527.2% in the 4th quarter. Atlas Capital Advisors Inc. now owns 1,267 shares of the luxury accessories retailer's stock worth $83,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new position in shares of Tapestry during the 4th quarter valued at about $95,000. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

TPR traded up $0.66 during trading on Friday, hitting $63.53. The company's stock had a trading volume of 4,165,660 shares, compared to its average volume of 4,172,814. The business's 50 day simple moving average is $74.60 and its 200-day simple moving average is $65.02. The firm has a market cap of $13.15 billion, a PE ratio of 18.41, a P/E/G ratio of 2.01 and a beta of 1.37. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter in the prior year, the firm earned $1.63 EPS. As a group, sell-side analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.20%. Tapestry's payout ratio is 40.58%.

Insider Buying and Selling

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total value of $2,226,929.12. Following the sale, the chief financial officer now directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd Kahn sold 21,107 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the transaction, the chief executive officer now directly owns 176,985 shares of the company's stock, valued at $14,866,740. This trade represents a 10.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,537 shares of company stock valued at $5,730,589. Company insiders own 1.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TPR shares. Guggenheim upped their price objective on shares of Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Barclays cut their target price on shares of Tapestry from $100.00 to $83.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group raised their price target on Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Evercore ISI raised their target price on shares of Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Finally, The Goldman Sachs Group lifted their price target on Tapestry from $72.00 to $98.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.00.

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.