Ariose Capital Management Ltd Takes Position in Tapestry, Inc. (NYSE:TPR)

Ariose Capital Management Ltd bought a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,505 shares of the luxury accessories retailer's stock, valued at approximately $880,000. Tapestry makes up 1.0% of Ariose Capital Management Ltd's portfolio, making the stock its 12th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Coppell Advisory Solutions LLC lifted its position in shares of Tapestry by 40.7% in the fourth 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. Private Trust Co. NA grew its holdings in shares of Tapestry by 27.2% during the first quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer's stock worth $50,000 after buying an additional 153 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Tapestry by 2.8% during the first quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer's stock worth $424,000 after buying an additional 165 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Tapestry by 25.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock worth $68,000 after buying an additional 194 shares in the last quarter. Finally, Ossiam grew its holdings in shares of Tapestry by 1.4% during the fourth quarter. Ossiam now owns 22,103 shares of the luxury accessories retailer's stock worth $1,444,000 after buying an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 1,399 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president owned 40,922 shares of the company's stock, valued at approximately $3,350,693.36. This trade represents a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd Kahn sold 40,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 116,062 shares of the company's stock, valued at approximately $9,447,446.80. The trade was a 25.63% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Tapestry Trading Up 0.2%

TPR traded up $0.24 on Friday, hitting $97.88. The company had a trading volume of 971,155 shares, compared to its average volume of 4,367,948. 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 $20.33 billion, a P/E ratio of 25.81, a PEG ratio of 1.97 and a beta of 1.47. The company's fifty day moving average price is $82.57 and its 200 day moving average price is $75.90. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $98.25.

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 for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.53 billion. Tapestry had a net margin of 12.50% and a return on equity of 51.84%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. As a group, equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, June 6th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.43%. Tapestry's dividend payout ratio is presently 36.84%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TPR. Cowen raised shares of Tapestry from a "hold" rating to a "buy" rating in a research note on Thursday, June 12th. Wells Fargo & Company restated an "overweight" rating and issued a $100.00 target price (up from $90.00) on shares of Tapestry in a report on Wednesday, May 14th. Telsey Advisory Group restated an "outperform" rating and issued a $92.00 target price on shares of Tapestry in a report on Friday, May 9th. Barclays upped their target price on Tapestry from $98.00 to $105.00 and gave the company an "overweight" rating in a report on Friday. Finally, Morgan Stanley raised shares of Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 target price on the stock in a research note on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and a consensus target price of $89.17.

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.