Trustmark National Bank Trust Department Acquires New Position in Tapestry, Inc. (NYSE:TPR)

Trustmark National Bank Trust Department purchased a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,828 shares of the luxury accessories retailer's stock, valued at approximately $1,295,000.

A number of other institutional investors have also modified their holdings of the company. Checchi Capital Advisers LLC increased its position in shares of Tapestry by 1.9% during the fourth quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer's stock worth $580,000 after acquiring an additional 163 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Tapestry by 0.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer's stock worth $1,261,000 after acquiring an additional 170 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Tapestry by 13.0% during the fourth 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 last quarter. E Fund Management Co. Ltd. increased its stake in Tapestry by 1.6% in the fourth quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer's stock valued at $833,000 after purchasing an additional 200 shares during the last quarter. Finally, Valley National Advisers Inc. raised its holdings in Tapestry by 0.5% during the fourth quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer's stock worth $2,831,000 after purchasing an additional 202 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Performance

NYSE TPR traded up $0.66 on Friday, hitting $63.53. 4,165,660 shares of the company's stock were exchanged, compared to its average volume of 4,174,247. 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's 50-day moving average price is $74.24 and its two-hundred day moving average price is $65.14. The firm has a market cap of $13.15 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 2.01 and a beta of 1.37. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (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 earnings per share. On average, research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is 40.58%.

Insider Buying and Selling

In related news, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at $12,688,570.72. The trade was 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 7,786 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the sale, the chief executive officer now owns 201,531 shares in the company, valued at approximately $17,652,100.29. This trade represents a 3.72 % 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. Company insiders own 1.18% of the company's stock.

Analyst Ratings Changes

TPR has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their target price on shares of Tapestry from $72.00 to $98.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Wells Fargo & Company raised their price objective on Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Telsey Advisory Group boosted their target price on Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Barclays dropped their price target on Tapestry from $100.00 to $83.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Guggenheim boosted their price objective on Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.00.

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.