HighPoint Advisor Group LLC Has $2.63 Million Holdings in Tapestry, Inc. (NYSE:TPR)

HighPoint Advisor Group LLC raised its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 560.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,607 shares of the luxury accessories retailer's stock after acquiring an additional 31,916 shares during the quarter. HighPoint Advisor Group LLC's holdings in Tapestry were worth $2,634,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in TPR. Greenline Partners LLC purchased a new stake in shares of Tapestry in the 4th quarter valued at about $29,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Tapestry in the 1st quarter worth approximately $35,000. Opal Wealth Advisors LLC acquired a new stake in shares of Tapestry in the 1st quarter worth approximately $35,000. Coppell Advisory Solutions LLC grew its holdings in shares of 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 acquiring an additional 150 shares during the period. Finally, Private Trust Co. NA grew its holdings in shares of Tapestry by 27.2% in the 1st quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer's stock worth $50,000 after acquiring an additional 153 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Performance

NYSE TPR traded down $0.44 during trading hours on Friday, reaching $107.99. The company's stock had a trading volume of 1,398,303 shares, compared to its average volume of 4,941,071. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 1.59. The business has a 50-day simple moving average of $87.70 and a 200 day simple moving average of $78.52. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $110.22. The stock has a market cap of $22.43 billion, a PE ratio of 28.34, a PEG ratio of 2.25 and a beta of 1.47.

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

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 6th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.30%. Tapestry's dividend payout ratio (DPR) is presently 36.84%.

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 1,399 shares of Tapestry stock in a transaction that occurred 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 transaction, the vice president owned 40,922 shares in the company, valued at approximately $3,350,693.36. The trade was a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Kahn sold 40,000 shares of Tapestry stock in a transaction that occurred 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 transaction, the chief executive officer 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 owned by insiders.

Wall Street Analyst Weigh In

TPR has been the topic of a number of analyst reports. Cowen upgraded Tapestry from a "hold" rating to a "buy" rating in a report on Thursday, June 12th. Argus increased their target price on Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Raymond James Financial reissued an "outperform" rating and set a $115.00 price target (up previously from $85.00) on shares of Tapestry in a research note on Tuesday. The Goldman Sachs Group increased their price target on Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $92.00 price target 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 assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $90.83.

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.