Counterpoint Mutual Funds LLC Purchases Shares of 7,295 Tapestry, Inc. (NYSE:TPR)

Counterpoint Mutual Funds LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,295 shares of the luxury accessories retailer's stock, valued at approximately $477,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Erste Asset Management GmbH bought a new position in shares of Tapestry in the 3rd quarter worth approximately $64,016,000. WT Asset Management Ltd bought a new position in Tapestry in the fourth quarter worth $42,762,000. Raymond James Financial Inc. purchased a new position in Tapestry during the fourth quarter valued at $38,180,000. Bank of Montreal Can boosted its holdings in shares of Tapestry by 76.6% during the 3rd quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer's stock valued at $59,641,000 after buying an additional 539,793 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Tapestry by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock worth $522,471,000 after buying an additional 382,856 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tapestry

In related 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 transaction of $2,226,929.12. Following the transaction, the chief financial officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Kahn sold 7,786 shares of the stock in a transaction on Friday, February 21st. The stock was 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 owns 201,531 shares of the company's stock, valued at $17,652,100.29. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock valued at $5,730,589 over the last 90 days. 1.18% of the stock is currently owned by corporate insiders.

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Tapestry Stock Performance

Shares of Tapestry stock traded up $0.08 during trading hours on Friday, reaching $72.99. 24,256,304 shares of the stock traded hands, compared to its average volume of 5,726,067. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 2.01 and a beta of 1.57. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The company has a 50 day moving average price of $77.05 and a 200 day moving average price of $61.45.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the company earned $1.63 earnings per share. On average, equities research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, March 6th. Tapestry's payout ratio is 40.58%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TPR shares. UBS Group lifted their price target on shares of Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. The Goldman Sachs Group boosted their price target on Tapestry from $72.00 to $98.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Morgan Stanley reaffirmed an "equal weight" rating and set a $65.00 price objective on shares of Tapestry in a research report on Tuesday, January 21st. Robert W. Baird lifted their price objective on Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Barclays increased their target price on Tapestry from $87.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. 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 has an average rating of "Moderate Buy" and an average target price of $78.53.

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.