Curat Global LLC Purchases New Holdings in Tapestry, Inc. (NYSE:TPR)

Curat Global LLC purchased a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,430 shares of the luxury accessories retailer's stock, valued at approximately $382,000.

A number of other institutional investors also recently made changes to their positions in TPR. Greenline Partners LLC acquired a new position in shares of Tapestry in the fourth quarter worth $29,000. Coppell Advisory Solutions LLC raised its holdings 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 worth $34,000 after acquiring an additional 150 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after acquiring an additional 252 shares during the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in shares of Tapestry in the fourth quarter worth $48,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Tapestry by 25.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock worth $68,000 after acquiring an additional 194 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Raymond James reissued an "outperform" rating and issued a $85.00 price target (up from $74.00) on shares of Tapestry in a report on Friday, May 9th. Wells Fargo & Company reiterated an "overweight" rating and issued a $100.00 target price (up from $90.00) on shares of Tapestry in a research note on Wednesday, May 14th. Robert W. Baird upped their target price on Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Redburn Atlantic upgraded Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 target price for the company in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group upped their target price on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Tapestry currently has an average rating of "Moderate Buy" and a consensus price target of $83.89.

Insider Transactions at Tapestry

In related news, 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 completion of the transaction, the vice president now owns 40,922 shares of the company's stock, valued at approximately $3,350,693.36. This represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $3,256,000.00. Following the completion of the transaction, the chief executive officer now directly owns 116,062 shares of the company's stock, valued at $9,447,446.80. This represents a 25.63% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Tapestry Trading Down 0.3%

TPR stock traded down $0.22 during trading on Friday, reaching $79.00. 2,406,856 shares of the stock traded hands, compared to its average volume of 4,257,655. The business's 50 day moving average price is $72.52 and its 200-day moving average price is $71.70. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The firm has a market capitalization of $16.41 billion, a PE ratio of 22.90, a P/E/G ratio of 2.01 and a beta of 1.46.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.14. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry's payout ratio is 36.84%.

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.