Abacus FCF Advisors LLC Has $2.97 Million Position in Tapestry, Inc. (NYSE:TPR)

Abacus FCF Advisors LLC grew its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 46.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,487 shares of the luxury accessories retailer's stock after acquiring an additional 14,384 shares during the quarter. Abacus FCF Advisors LLC's holdings in Tapestry were worth $2,972,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TPR. Venturi Wealth Management LLC raised its holdings in Tapestry by 78.0% during 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 period. UMB Bank n.a. increased its position in shares of Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock worth $77,000 after acquiring an additional 496 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings 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 worth $78,000 after acquiring an additional 1,129 shares during the period. Atlas Capital Advisors Inc. lifted its position in Tapestry by 527.2% in the 4th 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. Finally, Resona Asset Management Co. Ltd. acquired a new position in Tapestry in the 4th quarter worth $95,000. Institutional investors own 90.77% of the company's stock.

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Tapestry Stock Performance

TPR stock traded down $0.52 during midday trading on Friday, reaching $63.40. 5,317,849 shares of the company were exchanged, compared to its average volume of 4,158,686. The firm has a market capitalization of $13.13 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. The business has a 50-day moving average price of $75.82 and a two-hundred day moving average price of $64.82. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly 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 period last year, the company posted $1.63 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.21%. The ex-dividend date was Thursday, March 6th. Tapestry's payout ratio is 40.58%.

Insider Transactions at Tapestry

In other news, CEO Todd Kahn sold 21,107 shares of the firm's stock in a transaction that occurred on 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 approximately $14,866,740. This trade represents a 10.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott A. Roe sold 25,727 shares of the business's stock in a transaction that occurred 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 completion of the sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TPR. Telsey Advisory Group boosted their price target on Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Jefferies Financial Group boosted their target price on Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Robert W. Baird raised their price target on shares of Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. UBS Group boosted their price objective on shares of Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group raised their target price on shares of Tapestry from $72.00 to $98.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $77.63.

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.