Bryn Mawr Capital Management LLC Invests $202,000 in Tapestry, Inc. (NYSE:TPR)

Bryn Mawr Capital Management LLC purchased a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,866 shares of the luxury accessories retailer's stock, valued at approximately $202,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC lifted its holdings in Tapestry by 0.9% during the 4th quarter. HighTower Advisors LLC now owns 51,278 shares of the luxury accessories retailer's stock worth $3,350,000 after purchasing an additional 481 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Tapestry by 21.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,913 shares of the luxury accessories retailer's stock worth $1,040,000 after purchasing an additional 2,855 shares during the period. Corient Private Wealth LLC grew its position in shares of Tapestry by 43.3% in the 4th quarter. Corient Private Wealth LLC now owns 38,893 shares of the luxury accessories retailer's stock worth $2,541,000 after buying an additional 11,754 shares during the last quarter. Cibc World Markets Corp grew its position in shares of Tapestry by 46.8% in the 4th quarter. Cibc World Markets Corp now owns 26,222 shares of the luxury accessories retailer's stock worth $1,713,000 after buying an additional 8,360 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Tapestry by 18.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 175,307 shares of the luxury accessories retailer's stock worth $11,453,000 after buying an additional 27,886 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TPR shares. TD Cowen upgraded Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Thursday, June 12th. UBS Group upped their price objective on Tapestry from $68.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Morgan Stanley upgraded Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price target for the company in a research report on Thursday, May 8th. Citigroup upped their price objective on Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $85.00 price objective (up previously from $74.00) on shares of Tapestry in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $89.17.

Tapestry Stock Up 1.5%

Shares of Tapestry stock traded up $1.48 during trading on Thursday, reaching $102.15. The company's stock had a trading volume of 3,381,371 shares, compared to its average volume of 4,408,681. 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 company has a market cap of $21.22 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 2.08 and a beta of 1.47. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $102.31. The company has a 50-day simple moving average of $85.23 and a two-hundred day simple moving average of $77.12.

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. Tapestry had a return on equity of 51.84% and a net margin of 12.50%. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The company's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities 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 was paid on Monday, June 23rd. Shareholders of record on Friday, June 6th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Friday, June 6th. Tapestry's dividend payout ratio (DPR) is 36.84%.

Insider Buying and Selling at Tapestry

In related news, VP Manesh Dadlani sold 1,399 shares of the company'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 owned 40,922 shares in the company, valued at $3,350,693.36. This represents a 3.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Todd Kahn sold 40,000 shares of the company'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 value of $3,256,000.00. Following the completion of the sale, the chief executive officer owned 116,062 shares in the company, valued at approximately $9,447,446.80. This represents 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 company insiders.

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.