Metis Global Partners LLC Has $547,000 Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Metis Global Partners LLC increased its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 91.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,380 shares of the luxury accessories retailer's stock after purchasing an additional 3,999 shares during the period. Metis Global Partners LLC's holdings in Tapestry were worth $547,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. US Bancorp DE boosted its stake in Tapestry by 18.1% in the 4th quarter. US Bancorp DE now owns 17,440 shares of the luxury accessories retailer's stock worth $1,139,000 after purchasing an additional 2,676 shares during the period. SVB Wealth LLC acquired a new position in Tapestry in the 4th quarter worth $303,000. Parkside Financial Bank & Trust boosted its stake in Tapestry by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer's stock worth $104,000 after purchasing an additional 182 shares during the period. QRG Capital Management Inc. boosted its stake in Tapestry by 3.5% in the 4th quarter. QRG Capital Management Inc. now owns 12,747 shares of the luxury accessories retailer's stock worth $833,000 after purchasing an additional 430 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in Tapestry in the 4th quarter worth $9,279,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tapestry news, 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 $12,688,570.72. This represents a 14.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd Kahn sold 21,107 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the transaction, the chief executive officer now owns 176,985 shares in the company, valued at approximately $14,866,740. The trade was a 10.66 % 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 in the last quarter. Corporate insiders own 1.18% of the company's stock.

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Analyst Upgrades and Downgrades

TPR has been the subject of a number of research analyst reports. BMO Capital Markets upped their target price on shares of Tapestry from $55.00 to $60.00 and gave the stock a "market perform" rating in a research note on Monday, November 18th. JPMorgan Chase & Co. boosted their price target on shares of Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group boosted their price target on shares of Tapestry from $72.00 to $98.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Wells Fargo & Company boosted their price target on shares of Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Telsey Advisory Group boosted their price target on shares of Tapestry from $74.00 to $83.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Six 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 stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.53.

Tapestry Stock Performance

TPR traded down $2.72 on Friday, reaching $75.00. The company had a trading volume of 7,520,384 shares, compared to its average volume of 5,197,207. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The stock has a market cap of $15.53 billion, a P/E ratio of 21.74, a P/E/G ratio of 2.01 and a beta of 1.57. The company's fifty day moving average is $76.22 and its 200 day moving average is $59.67. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating analysts' consensus estimates 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 period last year, the company posted $1.63 EPS. As a group, analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.87%. Tapestry's dividend payout ratio (DPR) 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.