Mufg Securities Americas Inc. Invests $225,000 in Tapestry, Inc. (NYSE:TPR)

Mufg Securities Americas Inc. bought a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,441 shares of the luxury accessories retailer's stock, valued at approximately $225,000.

Other institutional investors also recently bought and sold shares of the company. Apollon Wealth Management LLC purchased a new stake in shares of Tapestry during the fourth quarter worth about $328,000. Charles Schwab Investment Management Inc. lifted its holdings in Tapestry by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock worth $522,471,000 after buying an additional 382,856 shares during the period. Abacus FCF Advisors LLC grew its position 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 worth $2,972,000 after buying an additional 14,384 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Tapestry by 14.6% during the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer's stock valued at $20,195,000 after buying an additional 39,298 shares during the period. Finally, Pzena Investment Management LLC bought a new position in shares of Tapestry during the fourth quarter valued at approximately $18,737,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the transaction, the chief financial officer now owns 146,587 shares in the company, valued at $12,688,570.72. This represents a 14.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Kahn sold 7,786 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $87.59, for a total transaction of $681,975.74. Following the completion of the sale, the chief executive officer now owns 201,531 shares in the company, valued at $17,652,100.29. This represents a 3.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 107,936 shares of company stock valued at $9,101,139 over the last ninety days. 1.18% of the stock is currently owned by corporate insiders.

Tapestry Stock Down 3.3%

NYSE:TPR traded down $2.72 on Wednesday, reaching $79.80. 3,794,561 shares of the stock traded hands, compared to its average volume of 4,217,429. 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 company has a market capitalization of $16.57 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 2.01 and a beta of 1.41. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company's fifty day simple moving average is $71.00 and its 200 day simple moving average is $69.63.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.14. The company had revenue of $1.58 billion during 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 firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 earnings per share. Equities analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

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

Wall Street Analysts Forecast Growth

TPR has been the topic of several recent analyst reports. Citigroup lifted 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. Barclays boosted their price target on shares of Tapestry from $83.00 to $98.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Raymond James reaffirmed an "outperform" rating and set a $85.00 price objective (up from $74.00) on shares of Tapestry in a research report on Friday, May 9th. Wells Fargo & Company reiterated an "overweight" rating and set a $100.00 target price (up previously from $90.00) on shares of Tapestry in a report on Wednesday, May 14th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $92.00 target price on shares of Tapestry in a research note on Friday, May 9th. Four research 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 company has an average rating of "Moderate Buy" and a consensus price target of $83.89.

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.