10,208 Shares in Tapestry, Inc. (NYSE:TPR) Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC acquired a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,208 shares of the luxury accessories retailer's stock, valued at approximately $719,000.

A number of other hedge funds have also recently added to or reduced their stakes in TPR. Greenline Partners LLC acquired a new stake in shares of Tapestry during the 4th quarter valued at approximately $29,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Tapestry during the 1st quarter valued at approximately $35,000. Opal Wealth Advisors LLC acquired a new stake in shares of Tapestry during the 1st quarter valued at approximately $35,000. Coppell Advisory Solutions LLC lifted 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 period. Finally, Private Trust Co. NA lifted its position in shares of Tapestry by 27.2% during the 1st quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer's stock valued at $50,000 after acquiring an additional 153 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TPR shares. Raymond James Financial reiterated an "outperform" rating and set a $85.00 price target (up from $74.00) on shares of Tapestry in a research report on Friday, May 9th. Morgan Stanley upgraded shares of Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price target for the company in a research report on Thursday, May 8th. Telsey Advisory Group restated an "outperform" rating and set a $92.00 price objective on shares of Tapestry in a research report on Friday, May 9th. Wells Fargo & Company restated an "overweight" rating and set a $100.00 price objective (up from $90.00) on shares of Tapestry in a research report on Wednesday, May 14th. Finally, The Goldman Sachs Group lifted their price objective on Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $89.17.

Insider Transactions at Tapestry

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $81.40, for a total value of $3,256,000.00. Following the completion of the transaction, the chief executive officer directly owned 116,062 shares of the company's stock, valued at $9,447,446.80. This represents a 25.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Manesh Dadlani sold 1,399 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $81.88, for a total transaction of $114,550.12. Following the completion of the transaction, the vice president directly owned 40,922 shares of the company's stock, valued at approximately $3,350,693.36. The trade was a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company's stock.

Tapestry Stock Up 0.3%

Tapestry stock traded up $0.31 during trading on Friday, reaching $97.95. 1,645,846 shares of the company's stock were exchanged, compared to its average volume of 5,026,313. The company's 50-day moving average is $82.57 and its two-hundred day moving average is $75.90. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.22 and a current ratio of 1.76. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $98.50. The firm has a market cap of $20.34 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 1.97 and a beta of 1.47.

Tapestry (NYSE:TPR - Get Free Report) last posted 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. The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.53 billion. Tapestry had a net margin of 12.50% and a return on equity of 51.84%. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 EPS. On average, analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, June 6th were given a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.43%. Tapestry's payout ratio is currently 36.84%.

Tapestry Company 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.