Arkadios Wealth Advisors Takes Position in Tapestry, Inc. (NYSE:TPR)

Arkadios Wealth Advisors acquired a new position in Tapestry, Inc. (NYSE:TPR - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,130 shares of the luxury accessories retailer's stock, valued at approximately $432,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC grew its stake in shares of Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after purchasing an additional 150 shares during the period. Private Trust Co. NA grew its stake in shares of Tapestry by 27.2% in the 1st quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer's stock valued at $50,000 after purchasing an additional 153 shares during the period. Mather Group LLC. grew its stake in shares of Tapestry by 2.8% in the 1st quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer's stock valued at $424,000 after purchasing an additional 165 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Tapestry by 25.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock valued at $68,000 after purchasing an additional 194 shares during the period. Finally, Apollon Wealth Management LLC boosted its holdings in shares of Tapestry by 4.2% in the 1st quarter. Apollon Wealth Management LLC now owns 5,229 shares of the luxury accessories retailer's stock worth $368,000 after acquiring an additional 211 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, 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 value 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. This trade represents a 25.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Manesh Dadlani sold 1,399 shares of the firm'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 transaction of $114,550.12. Following the completion of the transaction, the vice president directly 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 disclosure for this sale can be found here. 1.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. UBS Group upped their price objective on Tapestry from $73.00 to $112.00 and gave the stock a "neutral" rating in a report on Monday. Wall Street Zen downgraded Tapestry from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Citigroup increased 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. Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating in a research report on Thursday, June 12th. Finally, Argus upped their price objective on shares of Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $99.72.

Tapestry Trading Down 0.2%

TPR traded down $0.27 during trading on Tuesday, reaching $111.62. 4,090,258 shares of the stock traded hands, compared to its average volume of 3,982,717. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $23.18 billion, a PE ratio of 29.37, a P/E/G ratio of 2.26 and a beta of 1.51. The stock's 50-day moving average is $92.32 and its 200 day moving average is $80.85. Tapestry, Inc. has a 12 month low of $36.24 and a 12 month high of $112.49.

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 the consensus estimate of $0.89 by $0.14. Tapestry had a net margin of 12.50% and a return on equity of 51.84%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. The business's quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 6th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, June 6th. Tapestry's dividend payout ratio is currently 36.84%.

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.