Paralel Advisors LLC Boosts Stake in Tapestry, Inc. (NYSE:TPR)

Paralel Advisors LLC lifted its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 10.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,876 shares of the luxury accessories retailer's stock after purchasing an additional 4,800 shares during the period. Paralel Advisors LLC's holdings in Tapestry were worth $3,454,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TPR. HighTower Advisors LLC boosted its holdings in Tapestry by 0.9% in the 3rd quarter. HighTower Advisors LLC now owns 50,797 shares of the luxury accessories retailer's stock worth $2,386,000 after buying an additional 445 shares during the period. Wellington Management Group LLP boosted its stake in shares of Tapestry by 20.0% in the third quarter. Wellington Management Group LLP now owns 179,900 shares of the luxury accessories retailer's stock worth $8,452,000 after acquiring an additional 29,987 shares during the period. National Bank of Canada FI grew its position in shares of Tapestry by 86.3% during the third quarter. National Bank of Canada FI now owns 116,762 shares of the luxury accessories retailer's stock worth $5,485,000 after purchasing an additional 54,083 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in Tapestry by 4.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 56,914 shares of the luxury accessories retailer's stock valued at $2,674,000 after purchasing an additional 2,255 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Tapestry by 18.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 4,275 shares of the luxury accessories retailer's stock worth $201,000 after purchasing an additional 679 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

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Insider Activity at Tapestry

In other news, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the transaction, the chief executive officer now owns 201,531 shares of the company's stock, valued at $17,652,100.29. The trade was a 3.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott A. Roe sold 25,727 shares of the firm's stock in a transaction that occurred on 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 sale, the chief financial officer now owns 146,587 shares of the company's stock, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their ownership of the stock. 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 company insiders.

Tapestry Trading Down 0.3 %

TPR stock traded down $0.17 during trading on Tuesday, hitting $63.61. The company had a trading volume of 1,350,548 shares, compared to its average volume of 5,939,503. The firm has a market capitalization of $13.17 billion, a P/E ratio of 18.44, a PEG ratio of 2.01 and a beta of 1.37. 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 52-week low of $35.23 and a 52-week high of $90.85. The company has a 50 day simple moving average of $75.62 and a 200-day simple moving average of $64.93.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly 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 return on equity of 44.00% and a net margin of 11.74%. During the same period last year, the business earned $1.63 earnings per share. As a group, research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's payout ratio is 40.58%.

Analyst Upgrades and Downgrades

TPR has been the topic of several recent analyst reports. Jefferies Financial Group lifted their price objective on shares of Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Raymond James reiterated an "outperform" rating and issued a $88.00 price target (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Robert W. Baird raised their price objective on Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Guggenheim lifted their target price on Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Telsey Advisory Group increased their price target on Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Tapestry has an average rating of "Moderate Buy" and a consensus price target of $77.63.

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.