Victory Capital Management Inc. Buys 81,270 Shares of Tapestry, Inc. (NYSE:TPR)

Victory Capital Management Inc. boosted its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 515,095 shares of the luxury accessories retailer's stock after acquiring an additional 81,270 shares during the quarter. Victory Capital Management Inc. owned 0.22% of Tapestry worth $33,651,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its stake in shares of 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 purchasing an additional 252 shares during the period. Brooklyn Investment Group bought a new stake in Tapestry in the third quarter valued at $47,000. Transamerica Financial Advisors Inc. raised its stake 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 acquiring an additional 1,591 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock valued at $77,000 after acquiring an additional 496 shares during the period. Finally, True Wealth Design LLC acquired a new stake in shares of Tapestry in the 3rd quarter valued at $83,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TPR shares. StockNews.com cut shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. The Goldman Sachs Group boosted their price objective on Tapestry from $72.00 to $98.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Redburn Atlantic raised Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target for the company in a report on Tuesday, February 18th. Barclays increased their price objective on shares of Tapestry from $87.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Finally, Wells Fargo & Company upped their price target on Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $78.53.

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Tapestry Stock Down 2.9 %

NYSE TPR traded down $2.08 on Thursday, reaching $69.61. The company had a trading volume of 4,848,302 shares, compared to its average volume of 3,734,379. The company's fifty day moving average is $76.57 and its 200-day moving average is $60.30. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $90.85. The firm has a market capitalization of $14.41 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. 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 released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS 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 business posted $1.63 EPS. On average, research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is currently 40.58%.

Insider Buying and Selling at Tapestry

In other news, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was 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 in the company, valued at $3,397,592. This trade represents a 23.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now owns 146,587 shares in the company, valued at $12,688,570.72. The trade was a 14.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,537 shares of company stock worth $5,730,589. Insiders own 1.18% of the company's stock.

Tapestry 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.