Entropy Technologies LP Invests $2.46 Million in Tapestry, Inc. (NYSE:TPR)

Entropy Technologies LP acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 37,670 shares of the luxury accessories retailer's stock, valued at approximately $2,461,000.

A number of other large investors have also made changes to their positions in TPR. Waldron Private Wealth LLC acquired a new stake in Tapestry in the 3rd quarter worth about $25,000. Brooklyn Investment Group acquired a new stake in Tapestry in the 3rd quarter worth about $47,000. Deseret Mutual Benefit Administrators boosted its stake in Tapestry by 68.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer's stock worth $70,000 after buying an additional 605 shares during the last quarter. Transamerica Financial Advisors Inc. boosted its stake in Tapestry by 159,100.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer's stock worth $75,000 after buying an additional 1,591 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Tapestry by 72.9% in the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock worth $77,000 after buying an additional 496 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TPR shares. StockNews.com raised Tapestry from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Telsey Advisory Group lifted their price objective on Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Wells Fargo & Company lifted their price objective on Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. UBS Group lifted their price objective on Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $65.00 price objective on shares of Tapestry in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $74.78.

Tapestry Stock Up 1.7 %

Shares of NYSE:TPR traded up $1.48 during mid-day trading on Thursday, hitting $86.61. 5,033,353 shares of the company traded hands, compared to its average volume of 5,223,166. The company has a debt-to-equity ratio of 1.78, a quick ratio of 4.38 and a current ratio of 1.58. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $87.87. The firm's 50 day simple moving average is $69.60 and its 200 day simple moving average is $54.46. The firm has a market cap of $20.18 billion, a P/E ratio of 25.10, a PEG ratio of 2.30 and a beta of 1.58.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping 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 posted $1.63 EPS. On average, equities analysts anticipate that Tapestry, Inc. will post 4.7 EPS for the current year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.62%. Tapestry's dividend payout ratio is presently 40.58%.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the sale, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.18% of the stock is owned by company insiders.

About Tapestry

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.