Krane Funds Advisors LLC Takes Position in Tapestry, Inc. (NYSE:TPR)

Krane Funds Advisors LLC bought a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 4,649 shares of the luxury accessories retailer's stock, valued at approximately $304,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC bought a new stake in Tapestry in the 4th quarter valued at approximately $328,000. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 purchasing an additional 382,856 shares during the period. Decker Retirement Planning Inc. acquired a new position in Tapestry during the fourth quarter worth approximately $3,437,000. Principal Financial Group Inc. lifted its position in shares of Tapestry by 14.6% in the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer's stock valued at $20,195,000 after buying an additional 39,298 shares during the last quarter. Finally, Pzena Investment Management LLC acquired a new position in shares of Tapestry during the 4th quarter worth approximately $18,737,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TPR shares. Redburn Atlantic raised Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target for the company in a report on Tuesday, February 18th. Morgan Stanley reissued an "equal weight" rating and issued a $65.00 target price on shares of Tapestry in a research report on Tuesday, January 21st. Jefferies Financial Group raised their price target on shares of Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Raymond James reissued an "outperform" rating and issued a $88.00 price objective (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th. Finally, UBS Group raised their target price on shares of Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $77.63.

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Insider Buying and Selling

In other news, 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 transaction 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 $12,688,570.72. This trade represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Kahn sold 21,107 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the completion of the sale, the chief executive officer now owns 176,985 shares in the company, valued at $14,866,740. This represents a 10.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock valued at $5,730,589 over the last ninety days. 1.18% of the stock is owned by corporate insiders.

Tapestry Trading Down 0.8 %

TPR traded down $0.52 during midday trading on Friday, hitting $63.40. 5,317,849 shares of the company were exchanged, compared to its average volume of 4,157,263. The firm has a market capitalization of $13.13 billion, a P/E ratio of 18.38, a P/E/G ratio of 2.01 and a beta of 1.37. The firm's 50 day moving average price is $75.82 and its 200-day moving average price is $64.69. 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 1-year low of $35.23 and a 1-year high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share 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 quarter in the previous year, the firm earned $1.63 earnings per share. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.21%. Tapestry's 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.