Alpha DNA Investment Management LLC Makes New Investment in Tapestry, Inc. (NYSE:TPR)

Alpha DNA Investment Management LLC purchased a new position in Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,698 shares of the luxury accessories retailer's stock, valued at approximately $438,000.

Other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its stake in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after acquiring an additional 252 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in Tapestry during the 4th quarter valued at $48,000. UMB Bank n.a. grew its position in shares of Tapestry by 72.9% during 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 in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of 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 valued at $78,000 after buying an additional 1,129 shares during the period. Finally, Atlas Capital Advisors Inc. raised its holdings in shares of Tapestry by 527.2% in the fourth quarter. Atlas Capital Advisors Inc. now owns 1,267 shares of the luxury accessories retailer's stock valued at $83,000 after acquiring an additional 1,065 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on TPR shares. The Goldman Sachs Group cut their target price on shares of Tapestry from $98.00 to $84.00 and set a "buy" rating on the stock in a research report on Tuesday. Barclays reduced their price objective on shares of Tapestry from $100.00 to $83.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Jefferies Financial Group increased their target price on Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Evercore ISI upped their price objective on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. lifted their target price on Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.26.

Insider Activity

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the transaction, the chief financial officer now owns 146,587 shares of the company's stock, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the sale, the chief executive officer now directly owns 201,531 shares of the company's stock, valued at $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is currently owned by corporate insiders.

Tapestry Stock Performance

TPR stock traded up $2.22 during midday trading on Thursday, reaching $68.80. The stock had a trading volume of 1,205,124 shares, compared to its average volume of 5,821,874. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The firm has a fifty day simple moving average of $72.95 and a two-hundred day simple moving average of $65.53. The stock has a market cap of $14.24 billion, a PE ratio of 19.94, a P/E/G ratio of 2.01 and a beta of 1.37. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same period last year, the business earned $1.63 EPS. As a group, equities research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.04%. Tapestry's dividend payout ratio is currently 40.58%.

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.