Landscape Capital Management L.L.C. Has $5.86 Million Stock Position in Tapestry, Inc. (NYSE:TPR)

Landscape Capital Management L.L.C. cut its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 30.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 89,671 shares of the luxury accessories retailer's stock after selling 40,021 shares during the period. Tapestry comprises approximately 0.6% of Landscape Capital Management L.L.C.'s holdings, making the stock its 16th biggest position. Landscape Capital Management L.L.C.'s holdings in Tapestry were worth $5,858,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Tapestry during the 4th quarter worth approximately $114,199,000. WT Asset Management Ltd bought a new stake in Tapestry in the fourth quarter valued at $42,762,000. Raymond James Financial Inc. acquired a new position in shares of Tapestry during the fourth quarter valued at $38,180,000. Alliancebernstein L.P. grew its position in shares of Tapestry by 15.2% during the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after acquiring an additional 546,497 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Tapestry by 767.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 464,478 shares of the luxury accessories retailer's stock worth $30,344,000 after acquiring an additional 410,918 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Insiders Place Their Bets

In other news, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 146,587 shares of the company's stock, valued at approximately $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. 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 quarter. Insiders own 1.18% of the company's stock.

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Tapestry Stock Down 1.7 %

Shares of Tapestry stock traded down $1.02 on Wednesday, hitting $59.58. 1,882,584 shares of the company traded hands, compared to its average volume of 4,106,065. 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 12-month low of $35.23 and a 12-month high of $90.85. The company has a 50-day moving average price of $76.48 and a 200 day moving average price of $64.26. The company has a market cap of $12.33 billion, a PE ratio of 17.28, a PEG ratio of 2.01 and a beta of 1.37.

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, beating analysts' consensus estimates 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. Sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders 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 yield of 2.35%. Tapestry's dividend payout ratio (DPR) is currently 40.58%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TPR. Barclays upped their target price on shares of Tapestry from $87.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Wells Fargo & Company increased their price objective on Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Guggenheim lifted their target price on Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Telsey Advisory Group increased their price target on Tapestry from $74.00 to $83.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group raised their price target on Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's 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 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.