DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Invests $18.67 Million in Tapestry, Inc. (NYSE:TPR)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 285,814 shares of the luxury accessories retailer's stock, valued at approximately $18,672,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned about 0.12% of Tapestry as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TPR. Coppell Advisory Solutions LLC raised its stake in Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after acquiring an additional 150 shares during the period. Venturi Wealth Management LLC raised its stake in Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after acquiring an additional 252 shares during the period. Canada Post Corp Registered Pension Plan purchased a new stake in Tapestry during the 4th quarter valued at approximately $48,000. UMB Bank n.a. grew its holdings in Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock valued at $77,000 after buying an additional 496 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in Tapestry by 1,792.1% during the 4th 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 in the last quarter. 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 business'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 sale, the chief financial officer now owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was 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 in the company, valued at $3,397,592. The trade was a 23.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,537 shares of company stock worth $8,986,589 over the last quarter. Insiders own 1.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of Tapestry from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Citigroup increased their price objective on shares of Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a report on Friday. Raymond James reissued an "outperform" rating and issued a $85.00 target price (up from $74.00) on shares of Tapestry in a report on Friday. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Finally, Evercore ISI lifted their price objective on shares of Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and a consensus price target of $83.06.

Tapestry Stock Up 5.8%

Shares of TPR stock traded up $4.55 on Monday, hitting $82.56. The stock had a trading volume of 5,627,283 shares, compared to its average volume of 4,222,506. 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 business has a 50 day moving average price of $69.75 and a 200 day moving average price of $68.11. The company has a market cap of $17.09 billion, a PE ratio of 23.93, a P/E/G ratio of 2.01 and a beta of 1.41. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share 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 during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company posted $0.81 earnings per share. The firm's quarterly revenue was up 6.9% on a year-over-year basis. Research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.40 annualized dividend and a yield of 1.70%. Tapestry's dividend payout ratio (DPR) is presently 36.84%.

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.