Bank of Montreal Can Purchases 262,227 Shares of Tapestry, Inc. (NYSE:TPR)

Bank of Montreal Can lifted its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 21.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,506,297 shares of the luxury accessories retailer's stock after buying an additional 262,227 shares during the quarter. Bank of Montreal Can owned approximately 0.65% of Tapestry worth $98,406,000 at the end of the most recent quarter.

Other institutional investors have also 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 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 in the last quarter. UMB Bank n.a. raised its stake in Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock valued at $77,000 after buying an additional 496 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Tapestry by 1,792.1% in 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 in the last quarter. Atlas Capital Advisors Inc. grew its stake in shares of Tapestry by 527.2% during the fourth quarter. Atlas Capital Advisors Inc. now owns 1,267 shares of the luxury accessories retailer's stock worth $83,000 after acquiring an additional 1,065 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Tapestry in the 4th quarter valued at approximately $95,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

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Analysts Set New Price Targets

TPR has been the topic of a number of recent analyst reports. Robert W. Baird upped their price target 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. Raymond James reiterated an "outperform" rating and issued a $88.00 target price (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Redburn Atlantic raised shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group increased their price objective on shares of Tapestry from $72.00 to $98.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, Barclays lowered their price target on shares of Tapestry from $100.00 to $83.00 and set an "overweight" rating on the stock in a report on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and a consensus target price of $77.63.

Tapestry Price Performance

Shares of NYSE:TPR traded up $1.19 during trading on Monday, hitting $64.59. 1,049,078 shares of the stock were exchanged, compared to its average volume of 4,146,938. The company has a fifty day moving average price of $75.82 and a two-hundred day moving average price of $64.82. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The company has a market cap of $13.37 billion, a PE ratio of 18.72, a P/E/G ratio of 2.01 and a beta of 1.37. 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 posted its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (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 period last year, the company posted $1.63 EPS. On average, analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.17%. Tapestry's dividend payout ratio is presently 40.58%.

Insiders Place Their Bets

In related 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 completion of the sale, the chief executive officer now directly owns 176,985 shares in the company, 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 filing with the SEC, which is available at the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares of the company's stock, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock worth $5,730,589 over the last three months. 1.18% of the stock is owned by insiders.

About Tapestry

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.