Lido Advisors LLC Grows Stake in Tapestry, Inc. (NYSE:TPR)

Lido Advisors LLC grew its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 149.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,862 shares of the luxury accessories retailer’s stock after buying an additional 7,103 shares during the period. Lido Advisors LLC’s holdings in Tapestry were worth $775,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPR. Apollon Wealth Management LLC bought a new position in Tapestry in the 4th quarter worth $328,000. Charles Schwab Investment Management Inc. raised its stake in Tapestry by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock worth $522,471,000 after buying an additional 382,856 shares in the last quarter. Decker Retirement Planning Inc. purchased a new stake in Tapestry in the fourth quarter worth about $3,437,000. Abacus FCF Advisors LLC boosted its position in Tapestry by 46.2% during the 4th quarter. Abacus FCF Advisors LLC now owns 45,487 shares of the luxury accessories retailer’s stock valued at $2,972,000 after acquiring an additional 14,384 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Tapestry by 14.6% during the 4th quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer’s stock worth $20,195,000 after acquiring an additional 39,298 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In other news, CFO Scott A. Roe sold 25,727 shares of the company’s 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 of the company’s stock, valued at $12,688,570.72. This represents a 14.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel David E. Howard sold 11,917 shares of the firm’s stock in a transaction that occurred on 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 directly owns 38,609 shares in the company, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,537 shares of company stock worth $5,730,589. Insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TPR shares. Raymond James restated an “outperform” rating and issued a $88.00 target price (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Barclays lowered their price objective on Tapestry from $100.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $92.00 target price on shares of Tapestry in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Citigroup cut their price objective on shares of Tapestry from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $78.47.

Tapestry Trading Up 3.2 %

Shares of NYSE:TPR opened at $72.75 on Friday. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The stock’s fifty day moving average price is $70.64 and its 200-day moving average price is $66.88. The company has a market cap of $15.06 billion, a P/E ratio of 21.09, a PEG ratio of 2.01 and a beta of 1.41. 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 (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating 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 EPS. Sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was 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.