8,608 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,608 shares of the luxury accessories retailer's stock, valued at approximately $562,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Coppell Advisory Solutions LLC raised its stake 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 valued at $34,000 after acquiring an additional 150 shares during the period. Checchi Capital Advisers LLC raised its stake in shares of Tapestry by 1.9% in the fourth quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer's stock valued at $580,000 after acquiring an additional 163 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Tapestry by 0.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer's stock valued at $1,261,000 after acquiring an additional 170 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Tapestry by 13.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer's stock valued at $104,000 after acquiring an additional 182 shares during the period. Finally, E Fund Management Co. Ltd. raised its stake in shares of Tapestry by 1.6% in the fourth quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer's stock valued at $833,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TPR shares. Barclays increased their target price on shares of Tapestry from $83.00 to $98.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. The Goldman Sachs Group upped their price target on shares of Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, May 9th. 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. UBS Group upped their price target on shares of Tapestry from $68.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, Raymond James restated 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. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.89.

Tapestry Stock Up 0.3%

NYSE TPR traded up $0.21 during trading on Tuesday, reaching $78.77. 2,504,526 shares of the company's stock traded hands, compared to its average volume of 4,256,464. 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 cap of $16.36 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The company's 50 day simple moving average is $72.18 and its two-hundred day simple moving average is $71.49. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85.

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

Tapestry Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Friday, June 6th. Tapestry's payout ratio is currently 36.84%.

Insider Transactions at Tapestry

In other 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 now owns 40,922 shares of the company's stock, valued at $3,350,693.36. The trade was a 3.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 now directly owns 116,062 shares in the company, valued at approximately $9,447,446.80. The trade was a 25.63% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

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.