Tapestry, Inc. (NYSE:TPR) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 130.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,811 shares of the luxury accessories retailer's stock after acquiring an additional 63,211 shares during the quarter. Renaissance Technologies LLC's holdings in Tapestry were worth $7,305,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after purchasing an additional 252 shares in the last quarter. UMB Bank n.a. lifted its position in Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock worth $77,000 after acquiring an additional 496 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in Tapestry by 1,792.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock worth $78,000 after acquiring an additional 1,129 shares in the last quarter. Atlas Capital Advisors Inc. boosted its holdings in Tapestry by 527.2% in the 4th quarter. Atlas Capital Advisors Inc. now owns 1,267 shares of the luxury accessories retailer's stock worth $83,000 after acquiring an additional 1,065 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new stake in Tapestry in the fourth quarter valued at approximately $95,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Stock Performance

Shares of NYSE TPR traded up $1.74 during mid-day trading on Wednesday, hitting $66.66. The company had a trading volume of 3,448,673 shares, compared to its average volume of 4,185,615. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The stock has a market cap of $13.80 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 2.01 and a beta of 1.37. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The firm's 50 day simple moving average is $73.37 and its two-hundred day simple moving average is $65.52.

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 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 prior year, the business earned $1.63 earnings per share. As a group, equities research analysts forecast 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 dividend of $0.35 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.10%. Tapestry's dividend payout ratio is presently 40.58%.

Insider Buying and Selling

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the transaction, the chief executive officer now directly owns 201,531 shares in the company, valued at approximately $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. 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 three months. 1.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TPR has been the subject of several analyst reports. Morgan Stanley restated an "equal weight" rating and issued a $65.00 target price on shares of Tapestry in a research note on Tuesday, January 21st. Jefferies Financial Group upped 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. StockNews.com lowered Tapestry from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Telsey Advisory Group boosted their price target on Tapestry from $74.00 to $83.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Finally, Evercore ISI raised their price objective on Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $78.26.

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.