Brown Advisory Inc. Makes New Investment in Tapestry, Inc. (NYSE:TPR)

Brown Advisory Inc. bought a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,191 shares of the luxury accessories retailer's stock, valued at approximately $225,000.

A number of other hedge funds also recently bought and sold shares of TPR. HighTower Advisors LLC grew its position in shares of Tapestry by 0.9% during the 4th quarter. HighTower Advisors LLC now owns 51,278 shares of the luxury accessories retailer's stock valued at $3,350,000 after acquiring an additional 481 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Tapestry by 21.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,913 shares of the luxury accessories retailer's stock valued at $1,040,000 after purchasing an additional 2,855 shares during the period. Corient Private Wealth LLC grew its holdings in Tapestry by 43.3% during the fourth quarter. Corient Private Wealth LLC now owns 38,893 shares of the luxury accessories retailer's stock valued at $2,541,000 after purchasing an additional 11,754 shares during the period. Cibc World Markets Corp increased its position in Tapestry by 46.8% in the fourth quarter. Cibc World Markets Corp now owns 26,222 shares of the luxury accessories retailer's stock worth $1,713,000 after buying an additional 8,360 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Tapestry by 18.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 175,307 shares of the luxury accessories retailer's stock worth $11,453,000 after buying an additional 27,886 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insiders Place Their Bets

In related news, CEO Todd Kahn sold 40,000 shares of the 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 sale, 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 document filed with the SEC, which is available through this hyperlink. Also, VP Manesh Dadlani sold 1,399 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $81.88, for a total transaction of $114,550.12. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

Tapestry Trading Up 1.2%

TPR traded up $1.25 on Friday, hitting $103.41. The company had a trading volume of 3,404,056 shares, compared to its average volume of 4,404,679. The business's fifty day simple moving average is $85.23 and its 200 day simple moving average is $77.12. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 1.59. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $104.21. The company has a market cap of $21.48 billion, a PE ratio of 27.21, a PEG ratio of 2.08 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 (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.14. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. Tapestry had a return on equity of 51.84% and a net margin of 12.50%. The company's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $0.81 EPS. Equities research analysts expect that Tapestry, Inc. will post 4.91 EPS 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 dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Friday, June 6th. Tapestry's dividend payout ratio (DPR) is 36.84%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company reiterated an "overweight" rating and set a $100.00 price objective (up from $90.00) on shares of Tapestry in a research note on Wednesday, May 14th. UBS Group upped their price target on shares of Tapestry from $68.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Wall Street Zen upgraded shares of Tapestry from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Barclays reaffirmed an "overweight" rating and issued a $105.00 target price (up previously from $98.00) on shares of Tapestry in a report on Friday, July 11th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $92.00 price target on shares of Tapestry in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Tapestry presently has an average rating of "Moderate Buy" and an average target price of $89.17.

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.