5,688 Shares in Tapestry, Inc. (NYSE:TPR) Purchased by 111 Capital

111 Capital purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,688 shares of the luxury accessories retailer's stock, valued at approximately $372,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TPR. Southpoint Capital Advisors LP acquired a new position in shares of Tapestry during the fourth quarter valued at $130,660,000. Price T Rowe Associates Inc. MD boosted its holdings 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 acquiring an additional 1,875,753 shares during the period. Norges Bank acquired a new position in shares of Tapestry during the fourth quarter valued at $114,199,000. Point72 Asset Management L.P. acquired a new position in shares of Tapestry during the fourth quarter valued at $101,433,000. Finally, Candlestick Capital Management LP acquired a new position in shares of Tapestry during the fourth quarter valued at $66,902,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TPR. JPMorgan Chase & Co. boosted their price target on shares of Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Barclays boosted their price target on shares of Tapestry from $83.00 to $98.00 and gave the company an "overweight" rating in a report on Monday, May 12th. UBS Group boosted their price target on shares of Tapestry from $68.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Telsey Advisory Group reissued an "outperform" rating and set a $92.00 price target on shares of Tapestry in a report on Friday, May 9th. Finally, Raymond James restated an "outperform" rating and set a $85.00 price objective (up from $74.00) on shares of Tapestry in a research note on Friday, May 9th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and a consensus price target of $83.89.

Insiders Place Their Bets

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

Tapestry Price Performance

Tapestry stock traded up $0.21 during midday trading on Tuesday, hitting $78.77. The company's stock had a trading volume of 2,504,526 shares, compared to its average volume of 4,256,464. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The stock's 50-day moving average price is $72.18 and its 200-day moving average price is $71.49. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company has a market capitalization of $16.36 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41.

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. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. The firm had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the previous year, the business earned $0.81 earnings per share. Tapestry's revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

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 $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry's dividend payout ratio (DPR) is presently 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.