Captrust Financial Advisors Has $1.73 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Captrust Financial Advisors increased its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 17.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,515 shares of the luxury accessories retailer's stock after acquiring an additional 4,010 shares during the period. Captrust Financial Advisors' holdings in Tapestry were worth $1,732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Ameriprise Financial Inc. raised its holdings in shares of Tapestry by 4.8% in the 4th quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock worth $527,799,000 after acquiring an additional 370,784 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 worth $522,471,000 after acquiring 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 4th quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock worth $376,247,000 after acquiring an additional 176,717 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Tapestry by 15.2% in 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. Finally, Northern Trust Corp raised its holdings in shares of Tapestry by 3.0% in the 4th quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock worth $183,909,000 after acquiring an additional 83,222 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Activity at Tapestry

In other news, General Counsel David E. Howard sold 11,917 shares of the business's 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 completion of the transaction, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. The trade was a 23.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Roe sold 25,727 shares of the business's 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 transaction, the chief financial officer now owns 146,587 shares of the company's stock, valued at $12,688,570.72. This trade 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 106,537 shares of company stock worth $8,986,589. Corporate insiders own 1.18% of the company's stock.

Tapestry Trading Up 5.8%

Shares of TPR stock opened at $82.56 on Tuesday. The company has a 50 day moving average of $69.78 and a 200-day moving average of $68.34. The firm has a market cap of $17.09 billion, a P/E ratio of 23.93, a PEG ratio of 2.01 and a beta of 1.41. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. 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 (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 analysts' consensus estimates of $0.89 by $0.14. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the business earned $0.81 EPS. Tapestry's revenue was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors 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 dividend on an annualized basis and a yield of 1.70%. Tapestry's dividend payout ratio is 36.84%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TPR shares. Redburn Atlantic upgraded shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price objective for the company in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their price objective 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. The Goldman Sachs Group increased their price objective on shares of Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on shares of Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, Evercore ISI increased their price objective on shares of Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.06.

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.

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