Russell Investments Group Ltd. Has $8.51 Million Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Russell Investments Group Ltd. grew its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 130,208 shares of the luxury accessories retailer's stock after acquiring an additional 7,640 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Tapestry worth $8,506,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Tapestry

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now owns 146,587 shares in the company, valued at $12,688,570.72. This trade represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David E. Howard sold 11,917 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the sale, the general counsel now directly owns 38,609 shares in the company, valued at approximately $3,397,592. This represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock valued at $5,730,589 in the last ninety days. Company insiders own 1.18% of the company's stock.

Wall Street Analysts Forecast Growth

TPR has been the topic of several recent analyst reports. UBS Group upped their price target on Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Barclays lowered their price objective on shares of Tapestry from $100.00 to $83.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. The Goldman Sachs Group lifted their target price on shares of Tapestry from $72.00 to $98.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Redburn Atlantic raised shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target on the stock in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $79.00.

Tapestry Stock Performance

TPR traded up $0.66 during trading on Friday, hitting $63.53. The stock had a trading volume of 4,165,660 shares, compared to its average volume of 4,172,814. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company has a 50 day simple moving average of $74.60 and a 200-day simple moving average of $65.02. The firm has a market cap of $13.15 billion, a PE ratio of 18.41, a P/E/G ratio of 2.01 and a beta of 1.37.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm posted $1.63 earnings per share. Analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

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