Farther Finance Advisors LLC Increases Stake in Tapestry, Inc. (NYSE:TPR)

Farther Finance Advisors LLC boosted its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 371.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,268 shares of the luxury accessories retailer's stock after purchasing an additional 5,726 shares during the period. Farther Finance Advisors LLC's holdings in Tapestry were worth $475,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TPR. Erste Asset Management GmbH bought a new position in shares of Tapestry during the 3rd quarter valued at approximately $64,016,000. WT Asset Management Ltd bought a new position in shares of Tapestry during the 4th quarter valued at approximately $42,762,000. Raymond James Financial Inc. bought a new position in shares of Tapestry during the 4th quarter valued at approximately $38,180,000. Bank of Montreal Can grew its position in shares of Tapestry by 76.6% during the 3rd quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer's stock valued at $59,641,000 after acquiring an additional 539,793 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Tapestry by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock worth $522,471,000 after buying an additional 382,856 shares during the period. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Down 0.8 %

Tapestry stock traded down $0.61 during trading hours on Thursday, hitting $72.89. The stock had a trading volume of 4,809,324 shares, compared to its average volume of 5,376,433. 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 stock has a market capitalization of $15.09 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The stock's 50-day moving average price is $76.97 and its 200-day moving average price is $61.37.

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Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (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 period in the previous year, the firm earned $1.63 earnings per share. Equities research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. Tapestry's payout ratio is 40.58%.

Analysts Set New Price Targets

Several research analysts recently commented on TPR shares. Raymond James reaffirmed an "outperform" rating and issued a $88.00 price objective (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. StockNews.com cut shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. increased their target price on shares of Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Jefferies Financial Group increased their target price on shares of Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, Redburn Atlantic upgraded shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 target price on the stock in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $78.53.

Insider Activity

In other news, CEO Todd Kahn sold 7,786 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction 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. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the business'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 transaction of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares of the company's stock, 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. Insiders sold 66,537 shares of company stock valued at $5,730,589 over the last three months. Insiders own 1.18% of the company's stock.

Tapestry Company 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.