Cwm LLC Has $7.11 Million Holdings in Tapestry, Inc. (NYSE:TPR)

CWM LLC boosted its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 21.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 100,918 shares of the luxury accessories retailer's stock after purchasing an additional 17,846 shares during the period. CWM LLC's holdings in Tapestry were worth $7,106,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its holdings in Tapestry by 4.8% during the 4th quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock valued at $527,799,000 after purchasing an additional 370,784 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tapestry by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock worth $376,247,000 after acquiring an additional 176,717 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Tapestry by 15.2% in the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after acquiring an additional 546,497 shares during the last quarter. Northern Trust Corp raised its stake in shares of Tapestry by 3.0% in the fourth quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock worth $183,909,000 after acquiring an additional 83,222 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Tapestry by 593.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock worth $143,198,000 after acquiring an additional 1,875,753 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Up 1.2%

Shares of TPR stock traded up $1.24 during trading on Thursday, reaching $101.91. The company's stock had a trading volume of 1,783,769 shares, compared to its average volume of 4,392,904. The business has a fifty day moving average price of $84.74 and a 200-day moving average price of $76.87. 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 $21.17 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 2.10 and a beta of 1.47. Tapestry, Inc. has a one year low of $35.23 and a one year high of $102.31.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. Tapestry had a net margin of 12.50% and a return on equity of 51.84%. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 earnings per share. Analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, June 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Friday, June 6th. Tapestry's dividend payout ratio (DPR) is currently 36.84%.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 116,062 shares in the company, valued at $9,447,446.80. The trade was a 25.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Manesh Dadlani sold 1,399 shares of the company's stock in a transaction 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 transaction, the vice president owned 40,922 shares in the company, valued at approximately $3,350,693.36. This 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 insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on TPR. Barclays reaffirmed an "overweight" rating and issued a $105.00 target price (up from $98.00) on shares of Tapestry in a research note on Friday, July 11th. Argus boosted their target price on shares of Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Wells Fargo & Company reiterated an "overweight" rating and set a $100.00 price target (up previously from $90.00) on shares of Tapestry in a research report on Wednesday, May 14th. Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating in a report on Thursday, June 12th. Finally, The Goldman Sachs Group boosted their price objective on shares of Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a report 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's stock. Based on data from MarketBeat.com, Tapestry presently has an average rating of "Moderate Buy" and an average target price of $89.17.

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.