Boothbay Fund Management LLC Acquires 154,484 Shares of Tapestry, Inc. (NYSE:TPR)

Boothbay Fund Management LLC raised its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 674.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 177,403 shares of the luxury accessories retailer's stock after purchasing an additional 154,484 shares during the period. Boothbay Fund Management LLC owned 0.09% of Tapestry worth $11,590,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tapestry by 5.0% during 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 in the last quarter. Geode Capital Management LLC boosted its holdings in Tapestry by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock worth $376,247,000 after acquiring an additional 176,717 shares in the last quarter. Alliancebernstein L.P. grew its stake in Tapestry by 15.2% in the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock valued at $270,304,000 after acquiring an additional 546,497 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Tapestry by 593.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock valued at $143,198,000 after acquiring an additional 1,875,753 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of Tapestry by 16.4% during the fourth quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer's stock worth $138,596,000 after purchasing an additional 298,409 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Price Performance

Shares of TPR stock traded up $0.72 during trading on Tuesday, hitting $69.98. The company had a trading volume of 3,029,773 shares, compared to its average volume of 4,169,166. The stock's 50-day moving average is $71.75 and its two-hundred day moving average is $66.31. The stock has a market capitalization of $14.49 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping 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 company posted $1.63 earnings per share. As a group, analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.00%. Tapestry's dividend payout ratio is 40.58%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TPR shares. Morgan Stanley reaffirmed an "equal weight" rating and issued a $65.00 price objective on shares of Tapestry in a research note on Tuesday, January 21st. Wells Fargo & Company boosted their price objective on Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Raymond James restated an "outperform" rating and issued a $88.00 target price (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th. Telsey Advisory Group raised their price objective on Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Finally, Citigroup dropped their target price on shares of Tapestry from $95.00 to $81.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.26.

Insider Buying and Selling

In related news, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares of the company's stock, valued at $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Kahn sold 21,107 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 176,985 shares of the company's stock, valued at $14,866,740. The trade was a 10.66 % 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 in the last quarter. 1.18% of the stock is owned by insiders.

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.