Fox Run Management L.L.C. Buys New Position in Tapestry, Inc. (NYSE:TPR)

Fox Run Management L.L.C. purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,185 shares of the luxury accessories retailer's stock, valued at approximately $339,000.

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

Tapestry Trading Down 3.4 %

Shares of Tapestry stock traded down $2.50 during trading on Friday, reaching $70.25. 5,433,838 shares of the company were exchanged, compared to its average volume of 3,993,534. The business has a 50-day moving average price of $77.65 and a 200-day moving average price of $63.09. The firm has a market capitalization of $14.54 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 2.01 and a beta of 1.57. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85.

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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 (EPS) 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 quarter last year, the company posted $1.63 earnings per share. Sell-side analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.99%. The ex-dividend date was Thursday, March 6th. Tapestry's payout ratio is presently 40.58%.

Insiders Place Their Bets

In other Tapestry news, CEO Todd Kahn sold 21,107 shares of the stock in a transaction dated Tuesday, February 25th. The stock was 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 directly owns 176,985 shares in the company, valued at $14,866,740. This represents a 10.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $86.56, for a total value of $2,226,929.12. Following the transaction, the chief financial officer now owns 146,587 shares in the company, valued at $12,688,570.72. This trade represents a 14.93 % decrease in their position. 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. Company insiders own 1.18% of the company's stock.

Analyst Upgrades and Downgrades

TPR has been the subject of several recent analyst reports. Redburn Atlantic upgraded Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price objective for the company in a research note on Tuesday, February 18th. UBS Group increased their target price on shares of Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Barclays boosted their price target on shares of Tapestry from $87.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Robert W. Baird raised their price objective on shares of Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, Guggenheim lifted their target price on shares of Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.53.

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.