Cibc World Markets Corp lifted its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 46.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,222 shares of the luxury accessories retailer's stock after acquiring an additional 8,360 shares during the quarter. Cibc World Markets Corp's holdings in Tapestry were worth $1,713,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC grew its stake in Tapestry by 78.0% during 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. Brooklyn Investment Group acquired a new position in shares of Tapestry during the third quarter worth about $47,000. Transamerica Financial Advisors Inc. increased its stake in shares of Tapestry by 159,100.0% during the third 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 period. UMB Bank n.a. raised its holdings in Tapestry by 72.9% in the fourth 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. Finally, True Wealth Design LLC purchased a new position in Tapestry in the third quarter worth approximately $83,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.
Tapestry Stock Performance
Shares of TPR traded down $1.02 during mid-day trading on Tuesday, hitting $74.70. 3,072,239 shares of the company's stock were exchanged, compared to its average volume of 3,833,158. 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 fifty-two week low of $35.23 and a fifty-two week high of $90.85. The business's 50 day moving average is $77.49 and its two-hundred day moving average is $62.44. The firm has a market capitalization of $15.46 billion, a P/E ratio of 21.65, a P/E/G ratio of 2.01 and a beta of 1.57.
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 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 business posted $1.63 earnings per share. On average, equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.
Tapestry Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were paid a $0.35 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.87%. Tapestry's dividend payout ratio is currently 40.58%.
Insider Buying and Selling at Tapestry
In other news, CEO Todd Kahn sold 7,786 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the transaction, the chief executive officer now directly owns 201,531 shares in the company, valued at $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 146,587 shares of the company's stock, valued at $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of brokerages have commented on TPR. UBS Group increased their price objective on shares of Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Jefferies Financial Group increased their target price on Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Wells Fargo & Company lifted their price target on Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. increased their price objective on Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Finally, Robert W. Baird boosted their target price on Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. 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 a consensus rating of "Moderate Buy" and a consensus price target of $78.53.
View Our Latest Stock Analysis on TPR
Tapestry Profile
(
Free Report)
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.
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