Vestcor Inc Grows Stock Position in Tapestry, Inc. (NYSE:TPR)

Vestcor Inc boosted its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 581.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,223 shares of the luxury accessories retailer's stock after buying an additional 7,016 shares during the period. Vestcor Inc's holdings in Tapestry were worth $537,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its position in Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after buying an additional 252 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Tapestry during the 3rd quarter worth $47,000. UMB Bank n.a. boosted its position in shares of Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock worth $77,000 after purchasing an additional 496 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Tapestry by 13.0% during 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 in the last quarter. Finally, Transamerica Financial Advisors Inc. boosted its position in shares of Tapestry by 159,100.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer's stock worth $75,000 after purchasing an additional 1,591 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

TPR has been the topic of several research analyst reports. Redburn Atlantic upgraded shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 target price on the stock in a research report on Tuesday, February 18th. UBS Group boosted their target price on shares of Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Morgan Stanley restated an "equal weight" rating and set a $65.00 target price on shares of Tapestry in a research report on Tuesday, January 21st. StockNews.com lowered shares of Tapestry from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Tapestry has an average rating of "Moderate Buy" and a consensus price target of $78.53.

Insider Buying and Selling

In other Tapestry news, CEO Todd Kahn sold 21,107 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the completion of the transaction, the chief executive officer now owns 176,985 shares in the company, valued at $14,866,740. This represents a 10.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the transaction, the chief financial officer now owns 146,587 shares of the company's stock, valued at approximately $12,688,570.72. This represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is currently owned by corporate insiders.

Tapestry Trading Down 0.8 %

Shares of NYSE TPR traded down $0.61 on Thursday, reaching $72.89. 4,809,324 shares of the company traded hands, compared to its average volume of 3,735,284. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The company has a 50 day moving average of $76.97 and a 200 day moving average of $61.37. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $15.09 billion, a PE ratio of 21.13, a P/E/G ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the firm posted $1.63 earnings per share. On average, equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is presently 40.58%.

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.