Tapestry, Inc. (NYSE:TPR) Position Lifted by Cinctive Capital Management LP

Cinctive Capital Management LP raised its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 174.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 362,807 shares of the luxury accessories retailer's stock after purchasing an additional 230,731 shares during the period. Tapestry accounts for approximately 1.2% of Cinctive Capital Management LP's portfolio, making the stock its 11th largest holding. Cinctive Capital Management LP owned approximately 0.16% of Tapestry worth $23,702,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TPR. Apollon Wealth Management LLC purchased a new stake in Tapestry in the 4th quarter valued at approximately $328,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Tapestry by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock worth $522,471,000 after acquiring an additional 382,856 shares during the last quarter. Decker Retirement Planning Inc. purchased a new stake in shares of Tapestry in the fourth quarter valued at $3,437,000. Principal Financial Group Inc. boosted its stake in shares of Tapestry by 14.6% during the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer's stock valued at $20,195,000 after acquiring an additional 39,298 shares during the last quarter. Finally, Pzena Investment Management LLC purchased a new stake in Tapestry during the 4th quarter worth about $18,737,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the transaction, the chief executive officer now directly owns 201,531 shares of the company's stock, valued at $17,652,100.29. This represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of Tapestry 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 directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock valued at $5,730,589 over the last 90 days. 1.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Morgan Stanley restated an "equal weight" rating and set a $65.00 target price on shares of Tapestry in a research report on Tuesday, January 21st. Guggenheim boosted their price target on Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a report on Friday, February 7th. The Goldman Sachs Group raised their price objective on Tapestry from $72.00 to $98.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Redburn Atlantic upgraded Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 target price for the company in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $78.53.

Tapestry Trading Down 1.5 %

Shares of TPR stock traded down $0.92 during mid-day trading on Monday, reaching $62.02. The company's stock had a trading volume of 3,549,051 shares, compared to its average volume of 5,687,898. 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 firm has a market capitalization of $12.84 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. The company's 50 day simple moving average is $77.22 and its 200-day simple moving average is $64.02. 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 released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS 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 period last year, the firm earned $1.63 EPS. On average, research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's dividend payout ratio 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.