Mizuho Securities USA LLC Buys 7,158 Shares of Tapestry, Inc. (NYSE:TPR)

Mizuho Securities USA LLC boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 47.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,087 shares of the luxury accessories retailer's stock after acquiring an additional 7,158 shares during the quarter. Mizuho Securities USA LLC's holdings in Tapestry were worth $1,443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC increased its holdings in Tapestry by 1.9% in the fourth quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer's stock valued at $580,000 after purchasing an additional 163 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Tapestry by 0.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer's stock valued at $1,261,000 after buying an additional 170 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Tapestry by 13.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer's stock valued at $104,000 after buying an additional 182 shares during the period. E Fund Management Co. Ltd. raised its position in shares of Tapestry by 1.6% during the fourth quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer's stock worth $833,000 after acquiring an additional 200 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its stake in shares of Tapestry by 0.5% in the fourth quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer's stock worth $2,831,000 after acquiring an additional 202 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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Tapestry Stock Down 3.4 %

Shares of NYSE:TPR traded down $2.50 during midday trading on Friday, reaching $70.25. The company's stock had a trading volume of 5,433,838 shares, compared to its average volume of 3,993,534. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The firm has a 50 day moving average of $77.65 and a 200-day moving average of $62.94. The firm has a market capitalization of $14.54 billion, a P/E ratio of 20.36, a PEG ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results 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 period in the prior year, the company posted $1.63 EPS. On average, research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.99%. Tapestry's dividend payout ratio is presently 40.58%.

Insider Activity

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of the company'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 owns 201,531 shares in the company, valued at approximately $17,652,100.29. This represents a 3.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 146,587 shares in the company, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock worth $5,730,589 over the last 90 days. 1.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley reaffirmed an "equal weight" rating and set a $65.00 price target on shares of Tapestry in a research report on Tuesday, January 21st. Raymond James reaffirmed an "outperform" rating and set a $88.00 target price (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Wells Fargo & Company lifted their target price on Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Evercore ISI increased their price target on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Finally, StockNews.com lowered shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $78.53.

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.