Corient Private Wealth LLC Raises Position in Tapestry, Inc. (NYSE:TPR)

Corient Private Wealth LLC boosted its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 43.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,893 shares of the luxury accessories retailer's stock after purchasing an additional 11,754 shares during the period. Corient Private Wealth LLC's holdings in Tapestry were worth $2,541,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Venturi Wealth Management LLC boosted its holdings in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after buying an additional 252 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Tapestry during the 3rd quarter worth $47,000. Transamerica Financial Advisors Inc. boosted its stake in shares of Tapestry by 159,100.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer's stock worth $75,000 after acquiring an additional 1,591 shares during the last quarter. UMB Bank n.a. grew its position in shares of Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock valued at $77,000 after acquiring an additional 496 shares during the period. Finally, True Wealth Design LLC bought a new position in Tapestry in the 3rd quarter worth $83,000. 90.77% of the stock is currently owned by institutional investors.

Tapestry Trading Down 1.9 %

Shares of NYSE:TPR traded down $1.43 during trading hours on Tuesday, hitting $74.29. 1,326,442 shares of the company's stock traded hands, compared to its average volume of 5,642,409. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The business has a fifty day moving average price of $77.35 and a 200-day moving average price of $62.20. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The firm has a market capitalization of $15.38 billion, a P/E ratio of 21.55, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57.

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Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 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 period in the prior year, the business earned $1.63 earnings per share. Equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current 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 paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is presently 40.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. increased their price target on Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. 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. StockNews.com cut Tapestry from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, 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 report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.53.

Insider Activity

In other news, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction 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. This trade represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock worth $5,730,589 over the last 90 days. 1.18% of the stock is currently owned by corporate 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.