142,027 Shares in Tapestry, Inc. (NYSE:TPR) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 142,027 shares of the luxury accessories retailer's stock, valued at approximately $9,279,000. Proficio Capital Partners LLC owned 0.06% of Tapestry at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC lifted its position in Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after buying an additional 252 shares during the period. Brooklyn Investment Group bought a new position in shares of Tapestry during the third quarter valued at approximately $47,000. UMB Bank n.a. lifted its holdings in shares of Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock valued at $77,000 after purchasing an additional 496 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Tapestry by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer's stock worth $104,000 after purchasing an additional 182 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. grew its stake in shares of Tapestry by 159,100.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer's stock worth $75,000 after buying an additional 1,591 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of research analysts have issued reports on TPR shares. Telsey Advisory Group lifted their price objective on Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Morgan Stanley reaffirmed an "equal weight" rating and issued a $65.00 price target on shares of Tapestry in a research report on Tuesday, January 21st. Wells Fargo & Company increased their price objective on shares of Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. The Goldman Sachs Group lifted their target price on shares of Tapestry from $72.00 to $98.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, StockNews.com cut shares of Tapestry from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Six equities 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $78.53.

Tapestry Stock Performance

Shares of NYSE:TPR traded up $2.52 during midday trading on Wednesday, hitting $73.49. The company had a trading volume of 3,967,878 shares, compared to its average volume of 3,731,220. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The company has a fifty day moving average of $76.87 and a two-hundred day moving average of $61.29. The company has a market cap of $15.21 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 2.01 and a beta of 1.57. 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 (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (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 period last year, the business posted $1.63 earnings per share. On average, equities research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry's dividend payout ratio is currently 40.58%.

Insiders Place Their Bets

In other Tapestry news, CEO Todd Kahn sold 21,107 shares of Tapestry stock in a transaction on Tuesday, February 25th. The shares were 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 directly owns 176,985 shares in the company, valued at approximately $14,866,740. The trade was a 10.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction dated 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 transaction, the general counsel now directly owns 38,609 shares of the company's stock, valued at $3,397,592. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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.