Delphi Management Inc. MA Lowers Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Delphi Management Inc. MA lowered its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,586 shares of the luxury accessories retailer's stock after selling 5,243 shares during the quarter. Tapestry comprises about 1.6% of Delphi Management Inc. MA's investment portfolio, making the stock its 6th largest position. Delphi Management Inc. MA's holdings in Tapestry were worth $1,672,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Counterpoint Mutual Funds LLC acquired a new position in Tapestry during the 4th quarter worth $477,000. Cibc World Markets Corp lifted its stake in shares of Tapestry by 46.8% during the fourth quarter. Cibc World Markets Corp now owns 26,222 shares of the luxury accessories retailer's stock valued at $1,713,000 after acquiring an additional 8,360 shares during the period. Corient Private Wealth LLC boosted its holdings in Tapestry by 43.3% in the fourth quarter. Corient Private Wealth LLC now owns 38,893 shares of the luxury accessories retailer's stock valued at $2,541,000 after acquiring an additional 11,754 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Tapestry by 21.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,913 shares of the luxury accessories retailer's stock worth $1,040,000 after purchasing an additional 2,855 shares during the period. Finally, Monimus Capital Management LP bought a new stake in Tapestry during the 4th quarter worth about $3,216,000. 90.77% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction 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 $3,397,592. This trade represents a 23.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Kahn sold 21,107 shares of the company's 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 completion of the transaction, the chief executive officer now owns 176,985 shares in the company, valued at approximately $14,866,740. This represents a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,537 shares of company stock worth $5,730,589. Insiders own 1.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TPR. Robert W. Baird raised their target price 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. Telsey Advisory Group raised their price objective on shares of Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their target price on shares of Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Evercore ISI raised their price target on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Finally, UBS Group lifted their price objective on Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and an average target price of $78.53.

Tapestry Stock Up 0.1 %

TPR stock traded up $0.08 during trading hours on Friday, reaching $72.99. 24,256,304 shares of the stock were exchanged, compared to its average volume of 5,726,067. The company has a market cap of $15.11 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.01 and a beta of 1.57. The firm's 50-day moving average is $77.05 and its 200-day moving average is $61.45. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping the consensus estimate 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 previous year, the business earned $1.63 earnings per share. On average, equities research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. 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.