18,041 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by AXQ Capital LP

AXQ Capital LP purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,041 shares of the luxury accessories retailer's stock, valued at approximately $1,179,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mizuho Securities USA LLC raised its stake in shares of Tapestry by 47.9% during the fourth quarter. Mizuho Securities USA LLC now owns 22,087 shares of the luxury accessories retailer's stock valued at $1,443,000 after acquiring an additional 7,158 shares during the last quarter. Virtu Financial LLC bought a new position in Tapestry during the 4th quarter worth $271,000. Summit Global Investments acquired a new position in Tapestry during the 4th quarter worth about $1,919,000. Semanteon Capital Management LP acquired a new stake in shares of Tapestry in the fourth quarter valued at about $599,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Tapestry during the fourth quarter worth $1,246,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Activity at Tapestry

In related news, General Counsel David E. Howard sold 11,917 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the sale, the general counsel now directly owns 38,609 shares of the company's stock, valued at $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Roe sold 25,727 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now directly owns 146,587 shares of the company's stock, valued at $12,688,570.72. This represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock worth $5,730,589 over the last 90 days. 1.18% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

Several brokerages have recently commented on TPR. JPMorgan Chase & Co. increased their target price on shares of Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Robert W. Baird increased their price objective on shares of Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Morgan Stanley restated an "equal weight" rating and issued a $65.00 target price on shares of Tapestry in a research note on Tuesday, January 21st. The Goldman Sachs Group lifted their price target on Tapestry from $72.00 to $98.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Jefferies Financial Group boosted their price target on shares of Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $78.53.

Tapestry Trading Down 1.4 %

NYSE:TPR traded down $1.06 during mid-day trading on Tuesday, reaching $74.66. 1,030,168 shares of the company's stock traded hands, compared to its average volume of 3,830,592. The company has a 50 day moving average price of $77.35 and a 200-day moving average price of $62.20. The firm has a market capitalization of $15.46 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 2.01 and a beta of 1.57. 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, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85.

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 return on equity of 44.00% and a net margin of 11.74%. During the same quarter in the prior year, the firm earned $1.63 earnings per share. On average, sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Thursday, March 6th. Tapestry's payout ratio 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.