Tapestry, Inc. (NYSE:TPR) Stock Position Boosted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 18.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,307 shares of the luxury accessories retailer's stock after purchasing an additional 27,886 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of Tapestry worth $11,453,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPR. Venturi Wealth Management LLC boosted its position in shares of 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 purchased a new stake in Tapestry during the third quarter worth about $47,000. Transamerica Financial Advisors Inc. grew its position in 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. increased 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 buying an additional 496 shares in the last quarter. Finally, True Wealth Design LLC acquired a new stake in shares of Tapestry during the 3rd quarter valued at approximately $83,000. Institutional investors and hedge funds own 90.77% of the company's stock.

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Tapestry Stock Down 1.3 %

Tapestry stock traded down $1.02 during midday trading on Tuesday, hitting $74.70. 3,072,239 shares of the stock were exchanged, compared to its average volume of 3,833,158. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The firm has a market cap 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. The company has a 50 day moving average price of $77.49 and a two-hundred day moving average price of $62.44.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS 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 previous year, the business earned $1.63 EPS. On average, sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's dividend payout ratio is presently 40.58%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TPR. Telsey Advisory Group raised their price objective on Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Robert W. Baird raised their target price on shares of Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. StockNews.com downgraded shares of Tapestry from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Wells Fargo & Company raised their price objective on shares of Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, Guggenheim upped their target price on Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.53.

Insider Activity

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of Tapestry 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 transaction, the general counsel now owns 38,609 shares of the company's stock, valued at $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction on 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 sale, the chief financial officer now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is currently owned by insiders.

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.