Tapestry, Inc. (NYSE:TPR) Holdings Decreased by Aquatic Capital Management LLC

Aquatic Capital Management LLC decreased its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 87.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,648 shares of the luxury accessories retailer's stock after selling 301,452 shares during the period. Aquatic Capital Management LLC's holdings in Tapestry were worth $2,786,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position 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 worth $522,471,000 after purchasing an additional 382,856 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tapestry by 3.2% during 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 in the last quarter. Alliancebernstein L.P. raised its position in shares of Tapestry by 15.2% in the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock valued at $270,304,000 after buying an additional 546,497 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Tapestry by 593.3% during the fourth 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 buying an additional 1,875,753 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in Tapestry by 16.4% during the fourth quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer's stock worth $138,596,000 after acquiring an additional 298,409 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on TPR. Redburn Atlantic upgraded Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target for the company in a report on Tuesday, February 18th. Evercore ISI increased their price objective on shares of Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. The Goldman Sachs Group decreased their target price on shares of Tapestry from $98.00 to $84.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Barclays dropped their price target 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. Finally, Wells Fargo & Company decreased their price target on shares of Tapestry from $100.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $78.47.

Insiders Place Their Bets

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction on 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 directly owns 38,609 shares in the company, valued at $3,397,592. This represents a 23.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott A. Roe sold 25,727 shares of the firm's 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock worth $5,730,589 in the last three months. 1.18% of the stock is owned by insiders.

Tapestry Stock Up 3.2 %

Shares of NYSE TPR traded up $2.26 during trading on Friday, reaching $72.75. 4,502,648 shares of the stock were exchanged, compared to its average volume of 4,172,723. The company has a market capitalization of $15.06 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The business's 50-day moving average price is $70.86 and its 200 day moving average price is $66.54. 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 twelve month low of $35.23 and a twelve month high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping analysts' consensus estimates 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 company posted $1.63 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

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

About Tapestry

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.