Tapestry, Inc. (NYSE:TPR) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,195 shares of the luxury accessories retailer's stock after acquiring an additional 8,834 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Tapestry were worth $6,938,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its stake in Tapestry by 1.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 19,954 shares of the luxury accessories retailer's stock worth $1,304,000 after purchasing an additional 230 shares during the period. Checchi Capital Advisers LLC raised its position in shares of Tapestry by 1.9% during the 4th quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer's stock valued at $580,000 after buying an additional 163 shares during the period. Cutter & CO Brokerage Inc. acquired a new position in Tapestry in the fourth quarter valued at approximately $268,000. Denali Advisors LLC acquired a new position in Tapestry in the fourth quarter valued at approximately $400,000. Finally, Los Angeles Capital Management LLC grew its position in Tapestry by 660.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 238,725 shares of the luxury accessories retailer's stock worth $15,596,000 after acquiring an additional 207,322 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

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Tapestry Stock Down 1.6 %

Shares of Tapestry stock traded down $1.36 on Tuesday, reaching $82.73. 4,626,819 shares of the company were exchanged, compared to its average volume of 5,083,527. The stock's 50 day moving average price is $75.17 and its 200-day moving average price is $58.72. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $90.85. The company has a market cap of $17.13 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58.

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

Tapestry Announces Dividend

The firm 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. This represents a $1.40 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry's dividend payout ratio is presently 40.58%.

Analyst Upgrades and Downgrades

TPR has been the topic of several recent analyst reports. Wells Fargo & Company upped their price target on Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. UBS Group upped their target price on shares of Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Telsey Advisory Group lifted their price target on shares of Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Daiwa America raised shares of Tapestry to a "hold" rating in a research note on Monday, November 18th. Finally, The Goldman Sachs Group increased their price objective on shares of Tapestry from $72.00 to $98.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $78.53.

Insiders Place Their Bets

In other news, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction dated 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 sale, the general counsel now owns 38,609 shares of the company's stock, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Kahn sold 21,107 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the sale, the chief executive officer now owns 176,985 shares of the company's stock, valued at approximately $14,866,740. The trade was a 10.66 % 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 in the last ninety days. Insiders own 1.18% of the company's stock.

About Tapestry

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.