Livforsakringsbolaget Skandia Omsesidigt Has $1.55 Million Stock Position in Tapestry, Inc. (NYSE:TPR)

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 292.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,000 shares of the luxury accessories retailer's stock after acquiring an additional 16,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Tapestry were worth $1,549,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Apollon Wealth Management LLC bought a new position in Tapestry during the fourth quarter valued at approximately $328,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Tapestry by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock valued at $522,471,000 after purchasing an additional 382,856 shares in the last quarter. Abacus FCF Advisors LLC lifted its stake in shares of Tapestry by 46.2% in the 4th quarter. Abacus FCF Advisors LLC now owns 45,487 shares of the luxury accessories retailer's stock valued at $2,972,000 after purchasing an additional 14,384 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Tapestry by 14.6% in the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer's stock worth $20,195,000 after purchasing an additional 39,298 shares in the last quarter. Finally, Pzena Investment Management LLC acquired a new position in Tapestry during the fourth quarter worth $18,737,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TPR. JPMorgan Chase & Co. upped their price target on Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $92.00 price objective on shares of Tapestry in a report on Friday, May 9th. Wall Street Zen upgraded shares of Tapestry from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. UBS Group boosted their target price on shares of Tapestry from $68.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $100.00 price target (up from $90.00) on shares of Tapestry in a research report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $83.89.

Tapestry Price Performance

NYSE:TPR traded up $0.65 during trading hours on Tuesday, reaching $79.91. The company had a trading volume of 2,870,587 shares, compared to its average volume of 4,253,537. The firm has a market capitalization of $16.60 billion, a PE ratio of 23.16, a PEG ratio of 2.01 and a beta of 1.46. The stock has a 50-day moving average of $72.73 and a two-hundred day moving average of $72.22. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR - Get Free Report) last announced 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 11.74% and a return on equity of 44.00%. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter last year, the company posted $0.81 EPS. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. Analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry's payout ratio is presently 36.84%.

Insider Transactions at Tapestry

In other news, CEO Todd Kahn sold 40,000 shares of the firm's stock in a transaction dated 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 now owns 116,062 shares of the company's stock, valued at approximately $9,447,446.80. This trade represents a 25.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Manesh Dadlani sold 1,399 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $81.88, for a total transaction of $114,550.12. Following the sale, the vice president now directly owns 40,922 shares of the company's stock, valued at approximately $3,350,693.36. This trade 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 company insiders.

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.