Ceredex Value Advisors LLC Makes New Investment in Tapestry, Inc. (NYSE:TPR)

Ceredex Value Advisors LLC purchased 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 purchased 321,550 shares of the luxury accessories retailer's stock, valued at approximately $21,007,000. Ceredex Value Advisors LLC owned approximately 0.14% of Tapestry at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TPR. Venturi Wealth Management LLC lifted its stake in Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after purchasing an additional 252 shares during the period. Canada Post Corp Registered Pension Plan acquired a new stake in Tapestry in the 4th quarter valued at $48,000. UMB Bank n.a. boosted its stake in Tapestry by 72.9% in the 4th 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 in the last quarter. Brown Brothers Harriman & Co. grew its position 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 valued at $78,000 after acquiring an additional 1,129 shares during the period. Finally, Atlas Capital Advisors Inc. raised its stake in 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 in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Buying and Selling at Tapestry

In related news, General Counsel David E. Howard sold 11,917 shares of the business'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 completion of the sale, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 146,587 shares in the company, valued at $12,688,570.72. The trade was 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. Company insiders own 1.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TPR shares. Telsey Advisory Group upped their target price on shares of Tapestry from $74.00 to $83.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. The Goldman Sachs Group upped 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. Evercore ISI lifted their target price on shares of Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Jefferies Financial Group increased their price target on Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Finally, Redburn Atlantic upgraded Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price objective for the company in a research report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $79.00.

Tapestry Trading Up 1.0 %

Shares of TPR stock traded up $0.66 on Friday, hitting $63.53. The stock had a trading volume of 4,165,660 shares, compared to its average volume of 4,174,247. The firm has a market cap of $13.15 billion, a P/E ratio of 18.41, a PEG ratio of 2.01 and a beta of 1.37. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. 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 fifty day moving average price of $74.24 and a two-hundred day moving average price of $65.14.

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

Tapestry Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is presently 40.58%.

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.