Tapestry, Inc. (NYSE:TPR) Position Decreased by Wilsey Asset Management Inc.

Wilsey Asset Management Inc. lessened its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 751,008 shares of the luxury accessories retailer's stock after selling 4,381 shares during the period. Tapestry makes up about 9.1% of Wilsey Asset Management Inc.'s investment portfolio, making the stock its largest position. Wilsey Asset Management Inc. owned about 0.32% of Tapestry worth $49,063,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TPR. Waldron Private Wealth LLC bought a new stake in Tapestry in the third quarter worth $25,000. Brooklyn Investment Group purchased a new stake in shares of Tapestry in the third quarter valued at $47,000. UMB Bank n.a. lifted its holdings 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 worth $77,000 after acquiring an additional 496 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its stake in shares of Tapestry by 68.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer's stock worth $70,000 after purchasing an additional 605 shares during the period. Finally, Transamerica Financial Advisors Inc. grew its holdings in Tapestry by 159,100.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer's stock valued at $75,000 after purchasing an additional 1,591 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

TPR has been the subject of several analyst reports. Guggenheim raised their price objective on shares of Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Jefferies Financial Group boosted their price objective on Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Citigroup increased their target price on Tapestry from $49.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. TD Cowen lowered shares of Tapestry from a "buy" rating to a "hold" rating and set a $52.00 target price for the company. in a research note on Tuesday, October 29th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $65.00 price target on shares of Tapestry in a report on Tuesday, January 21st. Five 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 presently has an average rating of "Moderate Buy" and a consensus price target of $74.78.

Tapestry Stock Up 1.7 %

NYSE:TPR traded up $1.48 during trading hours on Thursday, reaching $86.61. The company's stock had a trading volume of 5,033,353 shares, compared to its average volume of 5,223,166. The stock has a 50 day moving average price of $69.60 and a two-hundred day moving average price of $54.46. The company has a debt-to-equity ratio of 1.78, a quick ratio of 4.38 and a current ratio of 1.58. The company has a market capitalization of $20.18 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 2.30 and a beta of 1.58. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $87.87.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping 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 quarter in the previous year, the company posted $1.63 earnings per share. Equities analysts predict that Tapestry, Inc. will post 4.7 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry's dividend payout ratio is currently 40.58%.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the sale, the vice president now owns 35,003 shares of the company's stock, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.18% of the company's stock.

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.