Mufg Securities Americas Inc. Invests $225,000 in Tapestry, Inc. (NYSE:TPR)

Mufg Securities Americas Inc. bought a new position in shares of Tapestry, Inc. (NYSE:TPR) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 3,441 shares of the luxury accessories retailer’s stock, valued at approximately $225,000.

A number of other hedge funds also recently made changes to their positions in TPR. Greenline Partners LLC bought a new stake in Tapestry in the 4th quarter valued at about $29,000. Coppell Advisory Solutions LLC raised its stake in Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock valued at $34,000 after acquiring an additional 150 shares during the period. Venturi Wealth Management LLC raised its stake in 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 acquiring an additional 252 shares during the period. Canada Post Corp Registered Pension Plan bought a new stake in Tapestry in the 4th quarter valued at about $48,000. Finally, UMB Bank n.a. raised its stake in Tapestry by 72.9% in the 4th 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. 90.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Todd Kahn sold 40,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $81.40, for a total value of $3,256,000.00. Following the sale, the chief executive officer now directly owns 116,062 shares of the company’s stock, valued at approximately $9,447,446.80. This represents a 25.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Manesh Dadlani sold 1,399 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $81.88, for a total value of $114,550.12. Following the completion of the sale, the vice president now directly owns 40,922 shares in the company, valued at approximately $3,350,693.36. This represents a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 107,936 shares of company stock worth $9,101,139. 1.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $92.00 target price on shares of Tapestry in a report on Friday, May 9th. Evercore ISI lifted their target price on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. UBS Group lifted their target price on Tapestry from $68.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Citigroup lifted their target price on Tapestry from $81.00 to $94.00 and gave the company a “buy” rating in a report on Friday, May 9th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $83.89.

Tapestry Price Performance

Shares of Tapestry stock opened at $82.77 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The company has a market cap of $17.19 billion, a PE ratio of 23.99, a P/E/G ratio of 2.01 and a beta of 1.41. The business has a 50 day moving average of $70.53 and a 200 day moving average of $69.15. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 earnings per share. As a group, equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.69%. Tapestry’s dividend payout ratio (DPR) is 36.84%.

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.