4,148 Shares in Tapestry, Inc. (NYSE:TPR) Purchased by Virtu Financial LLC

Virtu Financial LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,148 shares of the luxury accessories retailer's stock, valued at approximately $271,000.

A number of other institutional investors and hedge funds have also modified their holdings of TPR. Summit Global Investments purchased a new stake in shares of Tapestry during the fourth quarter valued at $1,919,000. Semanteon Capital Management LP purchased a new stake in Tapestry in the fourth quarter worth approximately $599,000. Harvest Fund Management Co. Ltd bought a new stake in Tapestry in the 4th quarter worth approximately $1,246,000. Thrivent Financial for Lutherans raised its stake in Tapestry by 18.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 175,307 shares of the luxury accessories retailer's stock valued at $11,453,000 after buying an additional 27,886 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Tapestry during the 4th quarter valued at $477,000. Institutional investors own 90.77% of the company's stock.

Tapestry Price Performance

Shares of Tapestry stock traded up $1.91 during trading hours on Wednesday, reaching $74.80. The company's stock had a trading volume of 3,746,002 shares, compared to its average volume of 4,000,533. The firm has a 50 day moving average price of $77.63 and a 200-day moving average price of $63.59. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The stock has a market cap of $15.48 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.01 and a beta of 1.57.

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Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping analysts' consensus estimates 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 earnings per share. On average, analysts predict 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. Investors of record on Thursday, March 6th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.87%. Tapestry's payout ratio is 40.58%.

Analysts Set New Price Targets

TPR has been the subject of a number of recent research reports. Guggenheim boosted their price target on Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Jefferies Financial Group boosted their target price on shares of Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. increased their price target 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. UBS Group lifted their target price on Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Finally, Barclays lifted their price objective on Tapestry from $87.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $78.53.

Insider Buying and Selling

In related news, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the completion of the sale, the chief financial officer now owns 146,587 shares in the company, valued at $12,688,570.72. This trade represents a 14.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction 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 represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock valued at $5,730,589 in the last ninety days. 1.18% of the stock is owned by company insiders.

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.