Nisa Investment Advisors LLC Buys 9,049 Shares of Tapestry, Inc. (NYSE:TPR)

Nisa Investment Advisors LLC grew its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,342 shares of the luxury accessories retailer's stock after purchasing an additional 9,049 shares during the period. Nisa Investment Advisors LLC's holdings in Tapestry were worth $4,460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its holdings in shares of 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. Geode Capital Management LLC raised its holdings in shares of Tapestry by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock valued at $376,247,000 after purchasing an additional 176,717 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Tapestry by 15.2% in the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock valued at $270,304,000 after purchasing an additional 546,497 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Tapestry by 3.0% in the fourth quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock valued at $183,909,000 after purchasing an additional 83,222 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Tapestry by 593.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock valued at $143,198,000 after purchasing an additional 1,875,753 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Buying and Selling

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of Tapestry stock in a transaction that occurred on Monday, May 12th. The shares were 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 directly owned 116,062 shares in the company, valued at $9,447,446.80. The trade was a 25.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Manesh Dadlani sold 1,399 shares of Tapestry stock in a transaction that occurred 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 sale, the vice president owned 40,922 shares of the company's stock, valued at approximately $3,350,693.36. The trade was a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TPR has been the subject of a number of research analyst reports. TD Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Thursday, June 12th. 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. Wells Fargo & Company restated an "overweight" rating and set a $100.00 price objective (up previously from $90.00) on shares of Tapestry in a report on Wednesday, May 14th. The Goldman Sachs Group raised their price objective on shares of Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Citigroup raised their price objective on shares of Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $89.17.

Tapestry Stock Performance

Shares of TPR traded up $0.86 during trading hours on Friday, hitting $98.50. The company's stock had a trading volume of 3,107,982 shares, compared to its average volume of 4,388,305. The business has a 50 day simple moving average of $83.08 and a two-hundred day simple moving average of $76.21. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.76 and a quick ratio of 1.22. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $98.65. The company has a market cap of $20.46 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 2.03 and a beta of 1.47.

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 analysts' consensus estimates of $0.89 by $0.14. Tapestry had a net margin of 12.50% and a return on equity of 51.84%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the business earned $0.81 earnings per share. Tapestry's revenue was up 6.9% compared to the same quarter last year. On average, equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 6th were given a $0.35 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.42%. Tapestry's dividend payout ratio (DPR) is currently 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.