Atria Wealth Solutions Inc. Makes New Investment in Tapestry, Inc. (NYSE:TPR)

Atria Wealth Solutions Inc. bought a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,206 shares of the luxury accessories retailer's stock, valued at approximately $340,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC lifted its position 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 acquiring an additional 252 shares during the period. Brooklyn Investment Group acquired a new position in shares of Tapestry in the third quarter valued at approximately $47,000. UMB Bank n.a. raised its stake 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 purchasing an additional 496 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in shares of Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer's stock worth $70,000 after purchasing an additional 605 shares during the period. Finally, Transamerica Financial Advisors Inc. grew its position 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 valued at $75,000 after buying an additional 1,591 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities analysts have commented on TPR shares. UBS Group upped 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. Evercore ISI increased their price target on shares of Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $65.00 price objective on shares of Tapestry in a report on Tuesday, January 21st. Wells Fargo & Company increased their target price on Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, StockNews.com downgraded Tapestry from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and an average price target of $78.53.

Insider Activity at Tapestry

In related news, CEO Todd Kahn sold 21,107 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the completion of the transaction, the chief executive officer now owns 176,985 shares in the company, valued at $14,866,740. This trade represents a 10.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was 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 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 disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock valued at $5,730,589 over the last ninety days. Insiders own 1.18% of the company's stock.

Tapestry Stock Performance

Shares of TPR traded down $1.75 during mid-day trading on Tuesday, hitting $82.35. The stock had a trading volume of 4,130,470 shares, compared to its average volume of 5,073,646. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week 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. The company has a market cap of $17.05 billion, a PE ratio of 23.90, a PEG ratio of 2.01 and a beta of 1.58. The company's fifty day simple moving average is $75.17 and its two-hundred day simple moving average is $58.72.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share 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 prior year, the firm posted $1.63 earnings per share. On average, equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.70%. Tapestry's dividend payout ratio (DPR) is 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.