Deutsche Bank AG Acquires 96,489 Shares of Tapestry, Inc. (NYSE:TPR)

Deutsche Bank AG lifted its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,290,500 shares of the luxury accessories retailer's stock after buying an additional 96,489 shares during the quarter. Deutsche Bank AG owned about 0.55% of Tapestry worth $84,308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Coppell Advisory Solutions LLC raised its position in shares of Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after purchasing an additional 252 shares during the period. Canada Post Corp Registered Pension Plan bought a new stake in Tapestry in the fourth quarter valued at about $48,000. UMB Bank n.a. lifted its stake in Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock valued at $77,000 after buying an additional 496 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in Tapestry by 1,792.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock valued at $78,000 after buying an additional 1,129 shares during the period. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Performance

Shares of TPR stock opened at $78.00 on Monday. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company's fifty day simple moving average is $69.75 and its 200-day simple moving average is $68.11. The firm has a market cap of $16.15 billion, a PE ratio of 22.61, a P/E/G 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 (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.89 by $0.14. The firm had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.53 billion. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. The company's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 EPS. Equities research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry's dividend payout ratio (DPR) is presently 40.58%.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Friday. Jefferies Financial Group upped their target price on shares of Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Raymond James reiterated an "outperform" rating and issued a $85.00 target price (up from $74.00) on shares of Tapestry in a report on Friday. Morgan Stanley raised shares of Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price target for the company in a report on Thursday. Finally, Guggenheim raised their price objective on Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $82.22.

Insider Activity

In other news, CEO Todd Kahn sold 7,786 shares of the stock in a transaction dated 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. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction dated 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 sale, the chief financial officer now directly owns 146,587 shares of the company's stock, valued at $12,688,570.72. The trade was a 14.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock valued at $5,730,589 over the last three months. 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.

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