24,253 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,253 shares of the luxury accessories retailer's stock, valued at approximately $1,708,000.

Other large investors also recently modified their holdings of the company. Coppell Advisory Solutions LLC increased its stake in Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Private Trust Co. NA raised its holdings in Tapestry by 27.2% during the 1st 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 during the period. Mather Group LLC. raised its holdings in Tapestry by 2.8% during the 1st 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 during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Tapestry by 25.2% during the 1st 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 during the period. Finally, Ossiam boosted its position in Tapestry by 1.4% during the 4th quarter. Ossiam now owns 22,103 shares of the luxury accessories retailer's stock worth $1,444,000 after acquiring an additional 296 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TPR. Argus raised their price target on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Barclays raised their price target on Tapestry from $83.00 to $98.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Wall Street Zen raised Tapestry from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. UBS Group raised their price objective on Tapestry from $68.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Morgan Stanley raised Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price objective on the stock in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $88.78.

Tapestry Trading Up 3.2%

NYSE:TPR traded up $2.93 during trading hours on Wednesday, hitting $95.14. 5,178,528 shares of the company were exchanged, compared to its average volume of 4,369,414. The stock has a market capitalization of $19.76 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 1.91 and a beta of 1.47. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 1.59. Tapestry, Inc. has a one year low of $35.23 and a one year high of $96.27. The company has a fifty day simple moving average of $82.02 and a 200 day simple moving average of $75.68.

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 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 firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company posted $0.81 EPS. The business's quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 6th were paid a $0.35 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.47%. Tapestry's payout ratio is presently 36.84%.

Insider Buying and Selling

In related news, CEO Todd Kahn sold 40,000 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Manesh Dadlani sold 1,399 shares of the business'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 transaction of $114,550.12. Following the completion of the sale, the vice president directly owned 40,922 shares in the company, valued at approximately $3,350,693.36. This trade represents a 3.31% decrease in their position. The disclosure for this sale can be found here. Company 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.