Inscription Capital LLC Acquires Shares of 4,837 Tapestry, Inc. (NYSE:TPR)

Inscription Capital LLC purchased a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,837 shares of the luxury accessories retailer's stock, valued at approximately $341,000.

Several other large investors have also recently modified their holdings of TPR. Ameriprise Financial Inc. raised its holdings in Tapestry by 4.8% in the fourth quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock worth $527,799,000 after buying an additional 370,784 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Tapestry by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock worth $522,471,000 after acquiring an additional 382,856 shares during the last quarter. Geode Capital Management LLC raised its holdings in Tapestry by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock worth $376,247,000 after acquiring an additional 176,717 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Tapestry by 15.2% in the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after acquiring an additional 546,497 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Tapestry by 3.0% in the 4th quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock worth $183,909,000 after acquiring an additional 83,222 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

TPR stock traded up $0.17 during midday trading on Friday, reaching $84.41. 4,336,744 shares of the company's stock traded hands, compared to its average volume of 4,294,757. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The stock has a market cap of $17.53 billion, a P/E ratio of 22.21, a PEG ratio of 1.87 and a beta of 1.46. 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 stock's 50-day moving average is $76.11 and its 200 day moving average is $73.42.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data 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 firm 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 revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. As a group, analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 6th will be issued a $0.35 dividend. 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 is 36.84%.

Insider Buying and Selling

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $81.40, for a total value 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 represents a 25.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Manesh Dadlani sold 1,399 shares of the stock in a transaction dated 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 now owns 40,922 shares of the company's stock, valued at $3,350,693.36. This represents a 3.31% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Cowen upgraded Tapestry from a "hold" rating to a "buy" rating in a research note on Thursday, June 12th. Raymond James Financial reissued an "outperform" rating and issued a $85.00 target price (up previously from $74.00) on shares of Tapestry in a research report on Friday, May 9th. UBS Group boosted their target price on 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 raised shares of Tapestry from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Finally, Argus boosted their price objective on shares of Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.78.

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.