PharVision Advisers LLC Makes New $314,000 Investment in Tapestry, Inc. (NYSE:TPR)

PharVision Advisers LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,803 shares of the luxury accessories retailer's stock, valued at approximately $314,000.

A number of other hedge funds have also recently made changes to their positions in TPR. Greenline Partners LLC purchased a new stake in Tapestry during the 4th quarter valued at about $29,000. Coppell Advisory Solutions LLC lifted 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 worth $34,000 after buying an additional 150 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after buying an additional 252 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Tapestry during the fourth quarter valued at approximately $48,000. Finally, UMB Bank n.a. increased its position in shares of Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock valued at $77,000 after acquiring an additional 496 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TPR shares. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $100.00 price objective (up from $90.00) on shares of Tapestry in a research report on Wednesday, May 14th. JPMorgan Chase & Co. upped their price target on Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Guggenheim increased their price objective on Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Redburn Atlantic raised Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 target price for the company in a research report on Tuesday, February 18th. Finally, Morgan Stanley raised 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. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $83.89.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 1,399 shares of Tapestry stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $81.88, for a total transaction of $114,550.12. Following the transaction, the vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Kahn sold 40,000 shares of the 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 sale, the chief executive officer now directly owns 116,062 shares of the company's stock, valued at $9,447,446.80. This represents a 25.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Tapestry Stock Performance

NYSE TPR traded up $4.33 during trading hours on Tuesday, hitting $81.20. 1,463,214 shares of the company's stock traded hands, compared to its average volume of 4,230,345. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. The firm has a market capitalization of $16.86 billion, a P/E ratio of 23.53, a P/E/G ratio of 2.01 and a beta of 1.41. 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 business's fifty day moving average price is $71.52 and its two-hundred day moving average price is $70.55.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter last year, the company posted $0.81 EPS. The company's revenue was up 6.9% compared to the same quarter last year. Equities research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.72%. The ex-dividend date is Friday, June 6th. Tapestry's dividend payout ratio is presently 36.84%.

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.