4,480 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by Allegiance Financial Group Advisory Services LLC

Allegiance Financial Group Advisory Services LLC acquired a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,480 shares of the luxury accessories retailer's stock, valued at approximately $315,000.

Several other hedge funds have also modified their holdings of TPR. Greenline Partners LLC acquired a new stake in shares of Tapestry during the fourth quarter worth about $29,000. Coppell Advisory Solutions LLC increased its position in shares of Tapestry by 40.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Tapestry during the first quarter worth about $35,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Tapestry during the first quarter worth about $35,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Tapestry during the fourth quarter worth about $48,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley upgraded Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 target price on the stock in a research report on Thursday, May 8th. Raymond James Financial reiterated an "outperform" rating and set a $85.00 target price (up previously from $74.00) on shares of Tapestry in a research report on Friday, May 9th. Cowen upgraded Tapestry from a "hold" rating to a "buy" rating in a research report on Thursday, June 12th. Argus raised their price target on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Finally, 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. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.17.

Tapestry Stock Performance

TPR traded up $1.25 during trading on Friday, reaching $103.41. The company's stock had a trading volume of 3,404,135 shares, compared to its average volume of 4,415,831. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $104.21. The company's fifty day moving average price is $85.74 and its 200-day moving average price is $77.38. The company has a market capitalization of $21.48 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.11 and a beta of 1.47. 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 (NYSE:TPR - Get Free Report) last announced 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. Tapestry had a return on equity of 51.84% and a net margin of 12.50%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the company earned $0.81 EPS. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 6th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Friday, June 6th. Tapestry's dividend payout ratio (DPR) is 36.84%.

Insider Activity at Tapestry

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

About Tapestry

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.