U.S. Capital Wealth Advisors LLC Purchases New Stake in Tapestry, Inc. (NYSE:TPR)

U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 45,384 shares of the luxury accessories retailer's stock, valued at approximately $3,195,000.

A number of other large investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in Tapestry by 4.8% during 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 in the last quarter. Geode Capital Management LLC increased 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 worth $376,247,000 after buying an additional 176,717 shares during the period. Alliancebernstein L.P. increased 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 worth $270,304,000 after buying an additional 546,497 shares during the period. Northern Trust Corp increased 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 worth $183,909,000 after buying an additional 83,222 shares during the period. Finally, Price T Rowe Associates Inc. MD increased 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 worth $143,198,000 after buying an additional 1,875,753 shares during the period. 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 the firm's stock in a transaction 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 transaction, the chief executive officer directly owned 116,062 shares of the company's stock, valued at approximately $9,447,446.80. This trade represents a 25.63% decrease in their position. The sale 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 Tapestry stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $81.88, for a total transaction of $114,550.12. Following the completion of the sale, the vice president directly owned 40,922 shares in the company, valued at approximately $3,350,693.36. The trade was a 3.31% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley upgraded 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. The Goldman Sachs Group lifted their price objective on Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, May 9th. TD Cowen upgraded Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective on the stock in a report on Thursday, June 12th. Barclays lifted their price objective on Tapestry from $83.00 to $98.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, Wall Street Zen upgraded Tapestry from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.78.

Tapestry Stock Down 0.2%

TPR stock traded down $0.21 during trading on Tuesday, hitting $92.26. 3,705,944 shares of the company's stock traded hands, compared to its average volume of 4,348,648. The firm has a market capitalization of $19.16 billion, a P/E ratio of 24.28, a PEG ratio of 1.86 and a beta of 1.47. The business has a fifty day simple moving average of $81.09 and a two-hundred day simple moving average of $75.42. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 1.59. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $93.50.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (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 the consensus estimate of $1.53 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The firm's quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, June 6th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.52%. Tapestry's dividend payout ratio (DPR) 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.