Fideuram Asset Management Ireland dac purchased a new position in shares of Tapestry, Inc. (NYSE:TPR – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,861 shares of the luxury accessories retailer’s stock, valued at approximately $877,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Woodline Partners LP grew its stake in Tapestry by 25.0% in the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after acquiring an additional 3,495 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Tapestry in the 1st quarter valued at about $493,000. Sivia Capital Partners LLC acquired a new stake in Tapestry in the 2nd quarter valued at about $602,000. Arrowstreet Capital Limited Partnership acquired a new stake in Tapestry in the 2nd quarter valued at about $6,307,000. Finally, Brown Advisory Inc. grew its stake in Tapestry by 13.8% in the 2nd quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock valued at $319,000 after acquiring an additional 439 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
Tapestry Trading Up 0.0%
Tapestry stock opened at $145.40 on Friday. The stock has a market cap of $29.38 billion, a PE ratio of 46.60, a P/E/G ratio of 1.48 and a beta of 1.45. The stock has a 50-day moving average price of $142.31 and a 200 day moving average price of $134.90. Tapestry, Inc. has a 52 week low of $76.92 and a 52 week high of $161.97. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48.
Tapestry Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, June 5th. Tapestry’s dividend payout ratio (DPR) is currently 51.28%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on TPR. Raymond James Financial reissued an “outperform” rating and issued a $165.00 price objective on shares of Tapestry in a research note on Thursday, April 23rd. UBS Group raised shares of Tapestry from a “neutral” rating to a “buy” rating and increased their price objective for the company from $142.00 to $187.00 in a research note on Friday, May 8th. Evercore set a $175.00 price objective on shares of Tapestry in a research note on Friday, May 8th. Barclays set a $179.00 price objective on shares of Tapestry and gave the company an “overweight” rating in a research note on Friday, February 6th. Finally, Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $160.67.
Read Our Latest Research Report on Tapestry
Insider Transactions at Tapestry
In related news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the sale, the chief executive officer owned 123,258 shares in the company, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total value of $3,691,152.64. Following the sale, the chief executive officer owned 652,434 shares of the company’s stock, valued at approximately $86,701,954.26. This represents a 4.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company’s stock.
Tapestry Company Profile
Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.
Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.
Further Reading
- Five stocks we like better than Tapestry
- Costco’s Strong Quarter Still Leaves Investors With a Valuation Problem
- These 3 Software Stocks Are Buying Back Shares Hand Over Fist
- Gap Inc. Cuts Sales Outlook After Q1 Miss, Shares Drop 17%
- MongoDB’s AI Advantage Is Starting to Show Up in Results
Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry, Inc. (NYSE:TPR – Free Report).
Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.
