PKO Investment Management Joint Stock Co Takes $1.11 Million Position in Tapestry, Inc. (NYSE:TPR)

PKO Investment Management Joint Stock Co purchased a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 17,000 shares of the luxury accessories retailer's stock, valued at approximately $1,111,000.

Other institutional investors also recently modified their holdings of the company. Greenline Partners LLC purchased a new stake in shares of Tapestry during the 4th quarter valued at about $29,000. Coppell Advisory Solutions LLC boosted its holdings 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 during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after buying an additional 252 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in shares of Tapestry in the fourth quarter worth approximately $48,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Tapestry by 1,792.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock worth $78,000 after buying an additional 1,129 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $81.40, for a total value of $3,256,000.00. Following the sale, the chief executive officer now owns 116,062 shares in the company, valued at approximately $9,447,446.80. This represents a 25.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Manesh Dadlani sold 1,399 shares of the company'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 value of $114,550.12. Following the completion of the sale, the vice president now owns 40,922 shares in the company, valued at approximately $3,350,693.36. This represents a 3.31% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on TPR. Morgan Stanley raised shares of Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price objective on the stock in a report on Thursday, May 8th. UBS Group raised their price objective on shares of Tapestry from $68.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. 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 lifted their price target on shares of Tapestry from $83.00 to $98.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, The Goldman Sachs Group lifted their price target on shares of Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.89.

Tapestry Trading Up 0.0%

Shares of TPR traded up $0.03 during trading hours on Friday, reaching $78.47. 2,869,991 shares of the company traded hands, compared to its average volume of 4,262,147. The firm has a market cap of $16.30 billion, a price-to-earnings ratio of 22.74, 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 has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The stock's fifty day moving average price is $71.96 and its 200 day moving average price is $71.29.

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, 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 company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm earned $0.81 earnings per share. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.78%. Tapestry's dividend payout ratio is presently 36.84%.

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.