Trust Investment Advisors Acquires Shares of 3,797 Tapestry, Inc. (NYSE:TPR)

Trust Investment Advisors acquired a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,797 shares of the luxury accessories retailer's stock, valued at approximately $248,000.

Several other large investors also recently made changes to their positions in TPR. Keystone Investors PTE Ltd. bought a new position in Tapestry in the fourth quarter worth approximately $26,541,000. Corebridge Financial Inc. lifted its holdings in shares of Tapestry by 3.3% in the 4th quarter. Corebridge Financial Inc. now owns 59,055 shares of the luxury accessories retailer's stock worth $3,858,000 after purchasing an additional 1,902 shares in the last quarter. LPL Financial LLC grew its position in Tapestry by 1.5% in the 4th quarter. LPL Financial LLC now owns 122,258 shares of the luxury accessories retailer's stock valued at $7,987,000 after purchasing an additional 1,791 shares during the period. Fox Run Management L.L.C. acquired a new stake in Tapestry in the 4th quarter valued at $339,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Tapestry during the 4th quarter valued at $3,508,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Price Performance

Shares of TPR stock traded down $2.50 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 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. The stock's 50 day simple moving average is $77.65 and its 200-day simple moving average is $62.94. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

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

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is currently 40.58%.

Insider Buying and Selling at Tapestry

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock worth $5,730,589 over the last 90 days. Corporate insiders own 1.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Redburn Atlantic upgraded Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target for the company in a research note on Tuesday, February 18th. StockNews.com cut Tapestry from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Raymond James reiterated an "outperform" rating and set a $88.00 price target (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th. Wells Fargo & Company raised their price objective on Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Robert W. Baird upped their target price on shares of Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.