Vise Technologies Inc. Makes New $215,000 Investment in Tapestry, Inc. (NYSE:TPR)

Vise Technologies Inc. bought a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,291 shares of the luxury accessories retailer's stock, valued at approximately $215,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriprise Financial Inc. lifted its holdings in shares of Tapestry by 4.8% in the 4th quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock worth $527,799,000 after acquiring an additional 370,784 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in 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 worth $522,471,000 after purchasing an additional 382,856 shares during the period. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 176,717 shares during the last quarter. Alliancebernstein L.P. boosted its position in Tapestry by 15.2% during 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 buying an additional 546,497 shares during the period. Finally, Northern Trust Corp boosted its position in Tapestry by 3.0% during 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 buying an additional 83,222 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Stock Up 0.1%

Tapestry stock traded up $0.08 during trading hours on Monday, hitting $78.63. 2,611,483 shares of the stock traded hands, compared to its average volume of 4,255,508. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The firm's 50-day moving average price is $72.06 and its two-hundred day moving average price is $71.44. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The company has a market cap of $16.33 billion, a PE ratio of 22.79, a PEG ratio of 2.01 and a beta of 1.41.

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

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Friday, June 6th. Tapestry's dividend payout ratio is presently 36.84%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Guggenheim lifted their price objective on Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Wall Street Zen raised Tapestry from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Barclays increased their price objective on Tapestry from $83.00 to $98.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Raymond James restated an "outperform" rating and issued a $85.00 target price (up previously from $74.00) on shares of Tapestry in a report on Friday, May 9th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $100.00 price target (up from $90.00) on shares of Tapestry in a report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.89.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 1,399 shares of the company'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 sale, the vice president now owns 40,922 shares in the company, valued at $3,350,693.36. This represents a 3.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Todd Kahn sold 40,000 shares of the firm'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 transaction, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. 1.18% of the stock is owned by company insiders.

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.