4,837 Shares in Tapestry, Inc. (NYSE:TPR) Bought by Inscription Capital LLC

Inscription Capital LLC purchased 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 Securities & Exchange Commission. The fund purchased 4,837 shares of the luxury accessories retailer's stock, valued at approximately $341,000.

Several other large investors also recently made changes to their positions in the stock. Greenline Partners LLC acquired a new stake in Tapestry in the 4th quarter valued at approximately $29,000. Coppell Advisory Solutions LLC lifted its holdings 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 buying an additional 150 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Tapestry in the first quarter valued at approximately $35,000. Venturi Wealth Management LLC grew its stake in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after acquiring an additional 252 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Tapestry in the fourth quarter worth $48,000. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

TPR stock opened at $84.24 on Thursday. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $90.85. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 1.59. The firm has a market cap of $17.50 billion, a PE ratio of 22.17, a P/E/G ratio of 1.84 and a beta of 1.46. The business's 50-day moving average price is $75.28 and its two-hundred day moving average price is $73.07.

Tapestry (NYSE:TPR - Get Free Report) last issued 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%. Tapestry's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 EPS. As a group, research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The company 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. This represents a $1.40 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry's dividend payout ratio (DPR) is currently 36.84%.

Analysts Set New Price Targets

TPR has been the subject of several recent research reports. Wells Fargo & Company reissued an "overweight" rating and issued a $100.00 price target (up previously from $90.00) on shares of Tapestry in a research report on Wednesday, May 14th. Barclays increased their target price on Tapestry from $83.00 to $98.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Citigroup boosted their price target on Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, May 9th. The Goldman Sachs Group increased their price objective on Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, UBS Group lifted their price objective on Tapestry from $68.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.78.

Insider Buying and Selling at Tapestry

In other news, 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 value of $114,550.12. Following the sale, the vice president now directly owns 40,922 shares of the company's stock, valued at approximately $3,350,693.36. This represents a 3.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Kahn sold 40,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 116,062 shares of the company's stock, valued at $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. Corporate insiders own 1.18% of the company's stock.

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.

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