Quantinno Capital Management LP Increases Position in Tapestry, Inc. (NYSE:TPR)

Quantinno Capital Management LP grew its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 13.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,984 shares of the luxury accessories retailer's stock after acquiring an additional 8,713 shares during the quarter. Quantinno Capital Management LP's holdings in Tapestry were worth $4,899,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its stake in Tapestry by 4.8% in the fourth quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock valued at $527,799,000 after purchasing an additional 370,784 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 valued at $522,471,000 after buying an additional 382,856 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Tapestry by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock worth $376,247,000 after buying an additional 176,717 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Tapestry by 15.2% in the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after buying an additional 546,497 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Tapestry by 3.0% during the 4th quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock worth $183,909,000 after acquiring an additional 83,222 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Tapestry

In related news, CEO Todd Kahn sold 40,000 shares of the business's stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 116,062 shares in the company, valued at $9,447,446.80. The trade was a 25.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Manesh Dadlani sold 1,399 shares of the stock in a transaction 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 in the company, valued at $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. In the last quarter, insiders sold 62,506 shares of company stock worth $5,143,538. Insiders own 1.18% of the company's stock.

Tapestry Stock Performance

NYSE TPR traded down $1.72 during trading hours on Friday, reaching $77.27. The stock had a trading volume of 966,289 shares, compared to its average volume of 4,213,283. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The stock has a fifty day moving average of $71.34 and a 200 day moving average of $69.91. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The stock has a market cap of $16.05 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.89 by $0.14. The business had revenue of $1.58 billion for 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 business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. Sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share 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 given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry's dividend payout ratio is currently 36.84%.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of analyst reports. Redburn Atlantic raised shares of 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. Raymond James reiterated an "outperform" rating and set a $85.00 price objective (up previously from $74.00) on shares of Tapestry in a report on Friday, May 9th. Robert W. Baird boosted their target price on Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley upgraded Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price target for the company in a research note on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus 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.