MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 5,251 Shares of Tapestry, Inc. (NYSE:TPR)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,513 shares of the luxury accessories retailer's stock after purchasing an additional 5,251 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Tapestry were worth $4,280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Park Avenue Securities LLC raised its holdings in shares of Tapestry by 31.5% in the 4th quarter. Park Avenue Securities LLC now owns 9,572 shares of the luxury accessories retailer's stock worth $625,000 after acquiring an additional 2,294 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Tapestry by 28.2% in the 4th quarter. Ritholtz Wealth Management now owns 12,680 shares of the luxury accessories retailer's stock worth $828,000 after acquiring an additional 2,793 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of Tapestry in the 4th quarter worth about $797,000. UMB Bank n.a. raised its holdings in shares of Tapestry by 72.9% in the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock worth $77,000 after acquiring an additional 496 shares during the last quarter. Finally, Capricorn Fund Managers Ltd acquired a new stake in shares of Tapestry in the 4th quarter worth about $3,905,000. Institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on TPR shares. StockNews.com raised shares of Tapestry from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Redburn Atlantic raised shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 target price on the stock in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their target price on shares of Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Guggenheim lifted their target price on shares of Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, UBS Group lifted 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. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $83.89.

Tapestry Trading Down 0.7%

NYSE:TPR opened at $82.28 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $17.09 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The firm's 50 day moving average is $70.74 and its 200 day moving average is $69.54. 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 released its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, beating 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 analyst estimates of $1.53 billion. During the same period in the previous year, the business earned $0.81 EPS. Tapestry's revenue was up 6.9% compared to the same quarter last year. Sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 6th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.70%. Tapestry's dividend payout ratio is 36.84%.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 1,399 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $81.88, for a total transaction of $114,550.12. Following the completion of the transaction, the vice president now directly owns 40,922 shares in the company, valued at $3,350,693.36. The trade was a 3.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David E. Howard sold 11,917 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now owns 38,609 shares of the company's stock, valued at $3,397,592. This trade represents a 23.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,936 shares of company stock worth $9,101,139. Corporate insiders own 1.18% of the company's stock.

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.

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