Edgestream Partners L.P. Has $9.25 Million Stock Position in Tapestry, Inc. (NYSE:TPR)

Edgestream Partners L.P. grew its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 52.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 141,601 shares of the luxury accessories retailer's stock after acquiring an additional 48,795 shares during the quarter. Tapestry comprises about 0.4% of Edgestream Partners L.P.'s investment portfolio, making the stock its 20th largest holding. Edgestream Partners L.P. owned about 0.06% of Tapestry worth $9,251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC raised its stake in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after purchasing an additional 252 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Tapestry during the third quarter valued at about $47,000. Deseret Mutual Benefit Administrators raised its stake in shares of Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer's stock valued at $70,000 after purchasing an additional 605 shares in the last quarter. Transamerica Financial Advisors Inc. raised its stake in shares of Tapestry by 159,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer's stock valued at $75,000 after purchasing an additional 1,591 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock valued at $77,000 after purchasing an additional 496 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

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Insider Buying and Selling

In other news, CFO Scott A. Roe sold 25,727 shares of the firm's 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Todd Kahn sold 21,107 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total value of $1,772,988.00. Following the completion of the sale, the chief executive officer now owns 176,985 shares of the company's stock, valued at approximately $14,866,740. This trade represents a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock valued at $5,730,589 over the last ninety days. 1.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TPR has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective 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. Daiwa America upgraded shares of Tapestry to a "hold" rating in a research report on Monday, November 18th. Telsey Advisory Group boosted their price target on shares of Tapestry from $74.00 to $83.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Redburn Atlantic upgraded shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target on the stock in a research report on Tuesday, February 18th. Finally, Raymond James reiterated an "outperform" rating and issued a $88.00 price target (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.53.

Tapestry Stock Performance

TPR traded down $2.72 on Friday, hitting $75.00. The company had a trading volume of 7,520,384 shares, compared to its average volume of 5,197,207. The company's fifty day moving average price is $76.22 and its 200 day moving average price is $59.67. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year 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. The stock has a market cap of $15.53 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping 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 company posted $1.63 earnings per share. Equities analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal 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 given a $0.35 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.87%. Tapestry's dividend payout ratio (DPR) is currently 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.