Harvest Fund Management Co. Ltd Takes $1.25 Million Position in Tapestry, Inc. (NYSE:TPR)

Harvest Fund Management Co. Ltd purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,059 shares of the luxury accessories retailer's stock, valued at approximately $1,246,000.

Other large investors have also bought and sold shares of the company. Apollon Wealth Management LLC purchased a new stake in shares of Tapestry in the fourth quarter valued at about $328,000. Charles Schwab Investment Management Inc. increased its stake 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 valued at $522,471,000 after buying an additional 382,856 shares during the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Tapestry during the 4th quarter worth approximately $3,437,000. Westfield Capital Management Co. LP boosted its stake in shares of Tapestry by 14.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer's stock worth $79,822,000 after buying an additional 219,544 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Tapestry by 14.6% in the 4th quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer's stock worth $20,195,000 after buying an additional 39,298 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Insider Transactions at Tapestry

In other news, CFO Scott A. Roe sold 25,727 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. This represents a 14.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Kahn sold 21,107 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly 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. Insiders have sold 66,537 shares of company stock valued at $5,730,589 in the last quarter. Insiders own 1.18% of the company's stock.

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Analyst Ratings Changes

A number of analysts recently commented on the company. Guggenheim lifted their price target on Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Raymond James reiterated an "outperform" rating and set a $88.00 target price (up from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Jefferies Financial Group increased their price target on shares of Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. The Goldman Sachs Group raised their price objective on shares of Tapestry from $72.00 to $98.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Robert W. Baird boosted 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. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tapestry presently has a consensus rating of "Moderate Buy" and an average price target of $78.53.

Tapestry Price Performance

Shares of Tapestry stock traded up $2.58 during trading on Monday, hitting $75.70. The stock had a trading volume of 5,468,458 shares, compared to its average volume of 3,832,475. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The firm has a market cap of $15.67 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 2.01 and a beta of 1.57. The business's 50-day moving average is $77.17 and its 200 day moving average is $61.96.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates 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 EPS. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.85%. Tapestry's dividend payout ratio is presently 40.58%.

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.