Twinbeech Capital LP Has $8.01 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Twinbeech Capital LP raised its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 204.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 122,674 shares of the luxury accessories retailer's stock after buying an additional 82,432 shares during the period. Twinbeech Capital LP owned about 0.05% of Tapestry worth $8,014,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Greenline Partners LLC bought a new position in shares of Tapestry in the 4th quarter worth $29,000. Coppell Advisory Solutions LLC boosted its position in shares of Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after purchasing an additional 150 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after purchasing an additional 252 shares during the last quarter. Canada Post Corp Registered Pension Plan bought a new position in shares of Tapestry in the 4th quarter worth $48,000. Finally, UMB Bank n.a. boosted its position in shares of Tapestry by 72.9% in the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock worth $77,000 after purchasing an additional 496 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Down 2.7%

Shares of TPR traded down $2.12 during midday trading on Friday, hitting $76.87. The stock had a trading volume of 3,937,130 shares, compared to its average volume of 4,241,106. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The firm has a market cap of $15.96 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The company has a 50 day simple moving average of $71.46 and a two-hundred day simple moving average of $70.24.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The business's revenue was up 6.9% on a year-over-year basis. On average, analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry's dividend payout ratio is presently 36.84%.

Analysts Set New Price Targets

Several research firms have recently issued reports on TPR. Robert W. Baird raised their price target on Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Guggenheim raised their price objective on Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. The Goldman Sachs Group raised their price objective on Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Morgan Stanley raised Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price objective on the stock in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised their price objective on Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Tapestry presently has an average rating of "Moderate Buy" and an average target price of $83.89.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 1,399 shares of the business'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 directly owns 40,922 shares in the company, valued at approximately $3,350,693.36. The trade was a 3.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Todd Kahn sold 40,000 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now owns 116,062 shares of the company's stock, valued at approximately $9,447,446.80. This trade represents a 25.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,506 shares of company stock worth $5,143,538 over the last quarter. Company insiders own 1.18% of the company's stock.

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.