American Trust Purchases New Holdings in Tapestry, Inc. (NYSE:TPR)

American Trust acquired a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,872 shares of the luxury accessories retailer's stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Greenline Partners LLC acquired a new position in shares of Tapestry during the 4th quarter worth $29,000. Coppell Advisory Solutions LLC increased its holdings in 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 in the last quarter. Venturi Wealth Management LLC increased its holdings in Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after acquiring an additional 252 shares in the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in Tapestry during the fourth quarter worth about $48,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of 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 purchasing an additional 1,129 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TPR has been the subject of a number of recent research reports. Guggenheim raised their price objective on shares of Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Raymond James reiterated an "outperform" rating and set a $85.00 target price (up previously from $74.00) on shares of Tapestry in a report on Friday, May 9th. The Goldman Sachs Group boosted their price target on Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, May 9th. UBS Group upped their price objective on Tapestry from $68.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Finally, Morgan Stanley upgraded Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price objective for the company in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $83.89.

Tapestry Trading Down 2.5%

TPR stock traded down $1.98 on Thursday, hitting $78.44. 4,834,145 shares of the company were exchanged, compared to its average volume of 4,248,310. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The stock has a market capitalization of $16.29 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The business's fifty day moving average is $71.83 and its two-hundred day moving average is $70.69. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last announced 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 company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The firm's revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 earnings per share. As a group, research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current 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. 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 1.78%. Tapestry's dividend payout ratio (DPR) is 36.84%.

Insiders Place Their Bets

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

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.