Algert Global LLC grew its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 223.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 145,883 shares of the luxury accessories retailer's stock after acquiring an additional 100,829 shares during the quarter. Algert Global LLC owned about 0.06% of Tapestry worth $9,531,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Tapestry by 5.0% during the 4th 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 purchasing an additional 382,856 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tapestry by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock worth $376,247,000 after buying an additional 176,717 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Tapestry by 15.2% during the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after acquiring an additional 546,497 shares during the last quarter. Northern Trust Corp boosted its holdings in Tapestry by 3.0% during the 4th quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock valued at $183,909,000 after acquiring an additional 83,222 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Tapestry by 593.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock valued at $143,198,000 after acquiring an additional 1,875,753 shares during the last quarter. Institutional investors own 90.77% of the company's stock.
Tapestry Stock Performance
Shares of Tapestry stock traded up $1.40 during midday trading on Wednesday, hitting $74.71. The company had a trading volume of 8,339,783 shares, compared to its average volume of 4,193,764. The company has a fifty day simple moving average of $69.94 and a 200 day simple moving average of $67.32. The stock has a market cap of $15.47 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 2.01 and a beta of 1.41. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85.
Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 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 quarter in the prior year, the company earned $1.63 earnings per share. As a group, analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.
Tapestry Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is 40.58%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on TPR shares. Citigroup cut their price target on shares of Tapestry from $95.00 to $81.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company decreased their price target on shares of Tapestry from $100.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Robert W. Baird raised their price objective on Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Evercore ISI upped their target price on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Finally, Raymond James restated an "outperform" rating and set a $88.00 price target (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $78.47.
Check Out Our Latest Research Report on TPR
Insider Activity
In related news, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction on Thursday, February 20th. The shares were 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 of the company's stock, valued at approximately $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction dated 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 approximately $3,397,592. This represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock valued at $5,730,589 in the last ninety days. Insiders own 1.18% of the company's stock.
Tapestry Company Profile
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Free Report)
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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