Tapestry, Inc. (NYSE:TPR) Stake Boosted by Vident Advisory LLC

Vident Advisory LLC raised its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,878 shares of the luxury accessories retailer's stock after purchasing an additional 3,963 shares during the period. Vident Advisory LLC's holdings in Tapestry were worth $3,781,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC lifted its holdings in Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in Tapestry by 1.9% in the 4th quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer's stock valued at $580,000 after purchasing an additional 163 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Tapestry by 0.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer's stock valued at $1,261,000 after purchasing an additional 170 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Tapestry by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer's stock valued at $104,000 after purchasing an additional 182 shares in the last quarter. Finally, E Fund Management Co. Ltd. lifted its holdings in Tapestry by 1.6% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer's stock valued at $833,000 after purchasing an additional 200 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 1,399 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were 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 of the company's stock, valued at $3,350,693.36. This trade represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Kahn sold 21,107 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the sale, the chief executive officer now directly owns 176,985 shares of the company's stock, valued at $14,866,740. The trade was a 10.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,506 shares of company stock valued at $5,143,538 over the last 90 days. 1.18% of the stock is owned by corporate insiders.

Tapestry Trading Down 2.7%

TPR traded down $2.12 on Friday, reaching $76.87. 3,937,130 shares of the company's stock were exchanged, compared to its average volume of 4,233,321. The company's 50 day moving average is $71.46 and its 200-day moving average is $70.10. The company has a market cap of $15.96 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 2.01 and a beta of 1.41. 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 quick ratio of 1.05 and a current ratio of 1.58.

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, beating the consensus estimate 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 the consensus estimate of $1.53 billion. During the same quarter last year, the company earned $0.81 earnings per share. Tapestry's revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.82%. The ex-dividend date is Friday, June 6th. Tapestry's dividend payout ratio (DPR) is 36.84%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Telsey Advisory Group reaffirmed an "outperform" rating and set a $92.00 price objective on shares of Tapestry in a research note on Friday, May 9th. Robert W. Baird upped their price objective on shares of Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $100.00 price objective (up previously from $90.00) on shares of Tapestry in a research note on Wednesday, May 14th. UBS Group upped their price objective on shares of Tapestry from $68.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Jefferies Financial Group upped their price objective on shares of Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Tapestry currently has a consensus rating of "Moderate Buy" and an average price target of $83.89.

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.