Aptus Capital Advisors LLC Invests $202,000 in Tapestry, Inc. (NYSE:TPR)

Aptus Capital Advisors LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,094 shares of the luxury accessories retailer’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPR. Coppell Advisory Solutions LLC boosted its holdings in shares of Tapestry by 40.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock worth $34,000 after purchasing an additional 150 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after acquiring an additional 252 shares in the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in shares of Tapestry in the fourth quarter worth $48,000. UMB Bank n.a. raised 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 worth $77,000 after acquiring an additional 496 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in Tapestry by 1,792.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer’s stock valued at $78,000 after purchasing an additional 1,129 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TPR shares. JPMorgan Chase & Co. raised their price target on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $92.00 target price on shares of Tapestry in a research note on Friday. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Morgan Stanley raised shares of Tapestry from an “equal weight” rating to an “overweight” rating and set a $90.00 price objective for the company in a research note on Thursday. Finally, Evercore ISI increased their target price on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and an average target price of $82.22.

Insider Buying and Selling at Tapestry

In related news, General Counsel David E. Howard sold 11,917 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the sale, the general counsel now owns 38,609 shares of the company’s stock, valued at $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Scott A. Roe sold 25,727 shares of the firm’s stock in a transaction dated 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 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. Insiders have sold 66,537 shares of company stock valued at $5,730,589 in the last 90 days. 1.18% of the stock is currently owned by company insiders.

Tapestry Stock Performance

NYSE:TPR opened at $78.00 on Friday. The firm’s 50-day moving average is $69.75 and its 200-day moving average is $67.78. The company has a market cap of $16.15 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 2.01 and a beta of 1.41. 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, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.14. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the company posted $0.81 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.79%. Tapestry’s dividend payout ratio is currently 40.58%.

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.