Integrated Investment Consultants LLC Purchases Shares of 17,168 Tapestry, Inc. (NYSE:TPR)

Key Points

• Integrated Investment Consultants LLC has acquired a new stake in Tapestry, Inc., purchasing 17,168 shares valued at approximately $1,209,000.
• Tapestry reported earnings of $1.03 per share for the last quarter, exceeding analysts' expectations of $0.89, and saw a revenue increase of 6.9% year-over-year to $1.58 billion.
• The company declared a quarterly dividend of $0.35 per share, representing an annualized dividend of $1.40 with a yield of 1.29% and a payout ratio of 36.84%.

Integrated Investment Consultants LLC bought a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 17,168 shares of the luxury accessories retailer's stock, valued at approximately $1,209,000.

Other large investors have also recently added to or reduced their stakes in the company. Greenline Partners LLC acquired a new position in shares of Tapestry in the 4th quarter valued at $29,000. MorganRosel Wealth Management LLC purchased a new stake in Tapestry during the first quarter valued at about $35,000. Opal Wealth Advisors LLC acquired a new stake in Tapestry during the first quarter worth about $35,000. Coppell Advisory Solutions LLC raised 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 purchasing an additional 150 shares during the period. Finally, Private Trust Co. NA lifted its stake 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 valued at $50,000 after purchasing an additional 153 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Stock Performance

Tapestry stock traded up $2.03 during mid-day trading on Monday, hitting $110.37. 3,113,383 shares of the company's stock traded hands, compared to its average volume of 3,720,245. Tapestry, Inc. has a one year low of $35.23 and a one year high of $110.44. The company has a market cap of $22.92 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 2.23 and a beta of 1.47. The firm has a 50 day moving average price of $88.77 and a 200 day moving average price of $79.25. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 1.59.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results 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. 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 the consensus estimate of $1.53 billion. During the same period in the previous year, the firm earned $0.81 EPS. Tapestry's revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, June 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.27%. Tapestry's dividend payout ratio (DPR) is currently 36.84%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley upgraded shares of Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price target on the stock in a report on Thursday, May 8th. Raymond James Financial reissued an "outperform" rating and issued a $115.00 price objective (up from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. UBS Group increased their target price on Tapestry from $68.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Wells Fargo & Company reissued an "overweight" rating and set a $100.00 price target (up from $90.00) on shares of Tapestry in a research report on Wednesday, May 14th. Finally, Citigroup raised their price target on shares of Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.11.

Insider Activity

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 116,062 shares in the company, valued at $9,447,446.80. This trade represents a 25.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Manesh Dadlani sold 1,399 shares of the stock in a transaction dated 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 directly owned 40,922 shares in the company, valued at approximately $3,350,693.36. This represents a 3.31% decrease in their position. The disclosure for this sale can be found here. Corporate 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.