Portolan Capital Management LLC Invests $12.93 Million in Tapestry, Inc. (NYSE:TPR)

Portolan Capital Management LLC bought a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 197,900 shares of the luxury accessories retailer's stock, valued at approximately $12,929,000. Portolan Capital Management LLC owned approximately 0.08% of Tapestry as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Checchi Capital Advisers LLC lifted its holdings in Tapestry by 1.9% during the 4th quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer's stock worth $580,000 after purchasing an additional 163 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Tapestry by 0.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer's stock valued at $1,261,000 after buying an additional 170 shares during the period. Parkside Financial Bank & Trust increased its stake in Tapestry by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer's stock worth $104,000 after acquiring an additional 182 shares during the period. E Fund Management Co. Ltd. raised its holdings in Tapestry by 1.6% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer's stock valued at $833,000 after acquiring an additional 200 shares in the last quarter. Finally, Valley National Advisers Inc. raised its stake in Tapestry by 0.5% in the fourth quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer's stock valued at $2,831,000 after purchasing an additional 202 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the sale, the chief financial officer now directly owns 146,587 shares in the company, valued at $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 66,537 shares of company stock valued at $5,730,589. Company insiders own 1.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TPR. Guggenheim upped 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. Jefferies Financial Group raised their price objective on Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Evercore ISI lifted their price objective on shares of Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. StockNews.com cut Tapestry from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company increased their target price on Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $79.00.

Tapestry Trading Up 1.0 %

TPR traded up $0.66 on Friday, hitting $63.53. 4,165,660 shares of the company were exchanged, compared to its average volume of 4,172,814. 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, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The stock has a market capitalization of $13.15 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. The firm has a fifty day simple moving average of $74.60 and a two-hundred day simple moving average of $65.02.

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, 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 period last year, the firm posted $1.63 EPS. Sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were given a $0.35 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.20%. Tapestry's dividend payout ratio is currently 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.