Monimus Capital Management LP Buys New Holdings in Tapestry, Inc. (NYSE:TPR)

Monimus Capital Management LP bought a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 49,227 shares of the luxury accessories retailer's stock, valued at approximately $3,216,000. Tapestry makes up approximately 3.0% of Monimus Capital Management LP's holdings, making the stock its 12th largest holding.

Several other large investors also recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV increased its position in Tapestry by 6.1% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 6,305 shares of the luxury accessories retailer's stock worth $296,000 after buying an additional 363 shares during the period. GSA Capital Partners LLP bought a new stake in Tapestry in the 3rd quarter valued at $237,000. Sumitomo Mitsui Trust Group Inc. grew its position in Tapestry by 42.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,779 shares of the luxury accessories retailer's stock worth $365,000 after purchasing an additional 2,326 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Tapestry by 7.5% during the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer's stock worth $20,381,000 after purchasing an additional 30,121 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Tapestry by 10.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 97,361 shares of the luxury accessories retailer's stock valued at $4,574,000 after buying an additional 9,142 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Redburn Atlantic upgraded Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 target price for the company in a research note on Tuesday, February 18th. Telsey Advisory Group raised their target price on Tapestry from $74.00 to $83.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. The Goldman Sachs Group upped their price target on Tapestry from $72.00 to $98.00 and gave the company a "buy" rating in a research report on Friday, February 7th. StockNews.com lowered shares of Tapestry from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Raymond James reissued an "outperform" rating and set a $88.00 price target (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $78.53.

Tapestry Stock Performance

NYSE:TPR traded up $2.52 during mid-day trading on Wednesday, hitting $73.49. 6,497,963 shares of the stock were exchanged, compared to its average volume of 3,731,241. The firm's 50-day simple moving average is $76.87 and its 200 day simple moving average is $61.29. The stock has a market capitalization of $15.21 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping 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 quarter last year, the business earned $1.63 EPS. As a group, equities analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.91%. Tapestry's payout ratio is presently 40.58%.

Insider Transactions at Tapestry

In other news, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction on Thursday, February 20th. The shares were 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 directly owns 38,609 shares in the company, valued at $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the business's 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 completion of the transaction, 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 ownership of the stock. 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 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.