406,262 Shares in Tapestry, Inc. (NYSE:TPR) Bought by Keystone Investors PTE Ltd.

Keystone Investors PTE Ltd. acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 406,262 shares of the luxury accessories retailer's stock, valued at approximately $26,541,000. Tapestry comprises about 1.9% of Keystone Investors PTE Ltd.'s portfolio, making the stock its 17th largest position. Keystone Investors PTE Ltd. owned 0.17% of Tapestry as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Venturi Wealth Management LLC grew its position in shares of 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 purchasing an additional 252 shares during the last quarter. Brooklyn Investment Group bought a new position in Tapestry in the 3rd quarter worth approximately $47,000. Transamerica Financial Advisors Inc. boosted its position in shares of Tapestry by 159,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer's stock valued at $75,000 after acquiring an additional 1,591 shares during the period. UMB Bank n.a. increased its position in Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock worth $77,000 after acquiring an additional 496 shares during the period. Finally, True Wealth Design LLC bought a new position in shares of Tapestry during the 3rd quarter worth about $83,000. 90.77% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

TPR has been the subject of a number of recent research reports. The Goldman Sachs Group increased their price objective on shares of Tapestry from $72.00 to $98.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Robert W. Baird upped their price target on shares of Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Jefferies Financial Group raised their price target on shares of Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Barclays upped their price objective on Tapestry from $87.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Finally, UBS Group lifted their price objective on Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $78.53.

Tapestry Stock Performance

Shares of NYSE:TPR traded down $2.50 during trading on Friday, reaching $70.25. 5,433,838 shares of the stock were exchanged, compared to its average volume of 3,993,534. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The stock has a 50-day moving average price of $77.65 and a 200-day moving average price of $62.94. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The firm has a market cap of $14.54 billion, a PE ratio of 20.36, a PEG ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last issued 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 return on equity of 44.00% and a net margin of 11.74%. During the same period last year, the business posted $1.63 EPS. Research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.99%. Tapestry's dividend payout ratio is presently 40.58%.

Insider Activity

In related news, CFO Scott A. Roe sold 25,727 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction 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 $12,688,570.72. This represents a 14.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,537 shares of company stock worth $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.