Bridgewater Associates LP Buys 379,613 Shares of Tapestry, Inc. (NYSE:TPR)

Bridgewater Associates LP increased its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 77.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 867,389 shares of the luxury accessories retailer's stock after purchasing an additional 379,613 shares during the quarter. Bridgewater Associates LP owned approximately 0.37% of Tapestry worth $56,667,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TPR. Apollon Wealth Management LLC purchased a new position in shares of Tapestry in the 4th quarter worth approximately $328,000. Charles Schwab Investment Management Inc. grew its stake in Tapestry by 5.0% in 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 period. Decker Retirement Planning Inc. purchased a new stake in shares of Tapestry during the 4th quarter valued at $3,437,000. Principal Financial Group Inc. raised its stake in shares of Tapestry by 14.6% during the 4th quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer's stock worth $20,195,000 after purchasing an additional 39,298 shares during the period. Finally, Pzena Investment Management LLC purchased a new position in shares of Tapestry in the 4th quarter worth about $18,737,000. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on TPR. JPMorgan Chase & Co. increased their price target on shares of Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Robert W. Baird raised their price target on shares of Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Citigroup lowered 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. Barclays reduced their price objective on Tapestry from $100.00 to $83.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Evercore ISI boosted their target price on Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $79.00.

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the transaction, the chief executive officer now directly owns 201,531 shares of the company's stock, valued at $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the sale, the chief financial officer now owns 146,587 shares in the company, 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. In the last ninety days, insiders sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is currently owned by insiders.

Tapestry Price Performance

Shares of NYSE:TPR traded up $0.66 during trading on Friday, reaching $63.53. The company had a trading volume of 4,165,660 shares, compared to its average volume of 4,177,085. 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. The stock has a market capitalization of $13.15 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. The company has a fifty day moving average of $74.24 and a two-hundred day moving average of $65.27.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter in the prior year, the business earned $1.63 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently declared 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. This represents a $1.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, March 6th. 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.