Farringdon Capital Ltd. Makes New Investment in Tapestry, Inc. (NYSE:TPR)

Farringdon Capital Ltd. acquired a new position in Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,316 shares of the luxury accessories retailer's stock, valued at approximately $478,000.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Tapestry in the 4th quarter worth $114,199,000. WT Asset Management Ltd acquired a new stake in Tapestry in the fourth quarter worth about $42,762,000. Raymond James Financial Inc. acquired a new position in shares of Tapestry during the fourth quarter valued at about $38,180,000. Alliancebernstein L.P. raised its position in shares of Tapestry by 15.2% in the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock valued at $270,304,000 after purchasing an additional 546,497 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in Tapestry by 767.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 464,478 shares of the luxury accessories retailer's stock worth $30,344,000 after purchasing an additional 410,918 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TPR. Evercore ISI boosted their target price on shares of Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Guggenheim lifted their price target on Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Raymond James restated an "outperform" rating and issued a $88.00 price objective (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. UBS Group boosted their price target on shares of Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, Wells Fargo & Company upped their price target on shares of Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.26.

Tapestry Stock Performance

Shares of TPR stock traded up $1.84 during trading hours on Wednesday, reaching $66.76. The stock had a trading volume of 2,030,252 shares, compared to its average volume of 4,179,555. The firm has a 50-day simple moving average of $73.37 and a 200-day simple moving average of $65.52. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The firm has a market capitalization of $13.82 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. 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 posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating 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 quarter last year, the firm earned $1.63 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's dividend payout ratio is currently 40.58%.

Insider Activity at Tapestry

In related news, CEO Todd Kahn sold 7,786 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the transaction, the chief executive officer now owns 201,531 shares in the company, valued at approximately $17,652,100.29. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the transaction, 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 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 valued at $5,730,589. Corporate insiders own 1.18% of the company's stock.

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.