Oxford Asset Management LLP Purchases New Holdings in Tapestry, Inc. (NYSE:TPR)

Oxford Asset Management LLP purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,663 shares of the luxury accessories retailer's stock, valued at approximately $435,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TPR. Charles Schwab Investment Management Inc. boosted its holdings in Tapestry by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock valued at $522,471,000 after acquiring an additional 382,856 shares during the last quarter. Geode Capital Management LLC lifted its stake in Tapestry by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock valued at $376,247,000 after acquiring an additional 176,717 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Tapestry by 15.2% during the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock valued at $270,304,000 after acquiring an additional 546,497 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Tapestry by 593.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock worth $143,198,000 after purchasing an additional 1,875,753 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Tapestry by 16.4% during the 4th quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer's stock worth $138,596,000 after purchasing an additional 298,409 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on TPR. Guggenheim boosted their price target on shares of Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Evercore ISI boosted their price target 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. StockNews.com cut shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their price target on shares of Tapestry from $100.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group decreased their price objective on shares of Tapestry from $98.00 to $84.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $78.00.

Tapestry Price Performance

Shares of NYSE TPR traded up $0.61 during mid-day trading on Wednesday, reaching $70.65. The company's stock had a trading volume of 4,417,640 shares, compared to its average volume of 4,166,812. 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 1-year low of $35.23 and a 1-year high of $90.85. The stock has a 50-day moving average of $71.42 and a two-hundred day moving average of $66.34. The stock has a market capitalization of $14.63 billion, a P/E ratio of 20.48, a P/E/G ratio of 2.01 and a beta of 1.37.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share 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 quarter last year, the firm earned $1.63 earnings per share. On average, equities research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.98%. Tapestry's dividend payout ratio is presently 40.58%.

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $87.59, for a total transaction of $681,975.74. Following the completion of the transaction, the chief executive officer now directly owns 201,531 shares in the company, valued at $17,652,100.29. The trade was a 3.72 % decrease in their position. The sale 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 company's stock in a transaction on 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 completion of the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 66,537 shares of company stock worth $5,730,589. Company insiders own 1.18% of the company's stock.

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.