17,144 Shares in Tapestry, Inc. (NYSE:TPR) Bought by Cantor Fitzgerald L. P.

Cantor Fitzgerald L. P. purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,144 shares of the luxury accessories retailer's stock, valued at approximately $1,120,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Coppell Advisory Solutions LLC boosted its holdings in Tapestry by 40.7% in the fourth 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 last quarter. Venturi Wealth Management LLC boosted its stake in shares of 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 purchasing an additional 252 shares during the last quarter. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Tapestry during the fourth quarter worth $48,000. UMB Bank n.a. raised its stake in 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 buying an additional 496 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in Tapestry by 1,792.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock valued at $78,000 after buying an additional 1,129 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

TPR has been the subject of several research analyst reports. StockNews.com lowered Tapestry from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Barclays reduced their price objective on shares of Tapestry from $100.00 to $83.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Robert W. Baird lifted their price objective on shares of Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Jefferies Financial Group increased their target price on shares of Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $65.00 price target on shares of Tapestry in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $78.47.

Tapestry Trading Up 3.2 %

Shares of Tapestry stock opened at $72.75 on Monday. The company has a market capitalization of $15.06 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The stock has a fifty day simple moving average of $70.64 and a 200 day simple moving average of $67.03. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the business posted $1.63 earnings per share. On average, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were paid a $0.35 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.92%. Tapestry's payout ratio is presently 40.58%.

Insider Activity

In other news, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction on 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 sale, the chief financial officer now directly owns 146,587 shares in the company, valued at $12,688,570.72. The trade was a 14.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now owns 38,609 shares of the company's stock, 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. Insiders sold a total of 66,537 shares of company stock valued at $5,730,589 over the last three months. Corporate insiders own 1.18% of the company's stock.

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.

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