Dorsey Wright & Associates Invests $243,000 in Tapestry, Inc. (NYSE:TPR)

Dorsey Wright & Associates purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,450 shares of the luxury accessories retailer's stock, valued at approximately $243,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Greenline Partners LLC bought a new stake in Tapestry during the 4th quarter worth approximately $29,000. Coppell Advisory Solutions LLC lifted its holdings in Tapestry by 40.7% during 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 in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Tapestry during the 1st quarter worth approximately $35,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Tapestry in the 1st quarter valued at about $35,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Tapestry in the 4th quarter valued at about $48,000. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TPR. TD Cowen upgraded Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Thursday, June 12th. The Goldman Sachs Group boosted their target price on shares of Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. UBS Group upped their price target on shares of Tapestry from $68.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Cowen raised shares of Tapestry from a "hold" rating to a "buy" rating in a research report on Thursday, June 12th. Finally, Barclays reaffirmed an "overweight" rating and issued a $105.00 price target (up previously from $98.00) on shares of Tapestry in a research report on Friday, July 11th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.83.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 1,399 shares of the firm's stock in a transaction on Monday, May 12th. The shares were 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 of the company's stock, valued at $3,350,693.36. This trade represents a 3.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Kahn sold 40,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $81.40, for a total transaction of $3,256,000.00. Following the completion of the sale, the chief executive officer directly owned 116,062 shares in the company, valued at approximately $9,447,446.80. This trade 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 Price Performance

Shares of NYSE TPR traded down $0.06 during trading hours on Friday, reaching $108.37. 3,518,510 shares of the stock traded hands, compared to its average volume of 3,935,325. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $110.22. 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's 50-day simple moving average is $88.21 and its two-hundred day simple moving average is $78.80. The company has a market capitalization of $22.51 billion, a P/E ratio of 28.52, a price-to-earnings-growth ratio of 2.24 and a beta of 1.47.

Tapestry (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS 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 company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm earned $0.81 EPS. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, June 6th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Friday, June 6th. Tapestry's dividend payout ratio is currently 36.84%.

About Tapestry

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.