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 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,291 shares of the luxury accessories retailer's stock, valued at approximately $215,000.

A number of other institutional investors have also bought and sold shares of TPR. Ameriprise Financial Inc. grew its position in shares of Tapestry by 4.8% during the fourth quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock worth $527,799,000 after purchasing an additional 370,784 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 grew its holdings in Tapestry by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock valued at $376,247,000 after buying an additional 176,717 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of 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 last quarter. Finally, Northern Trust Corp lifted 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 in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

Shares of NYSE TPR traded up $0.03 during mid-day trading on Friday, hitting $78.47. The stock had a trading volume of 2,869,991 shares, compared to its average volume of 4,262,147. The firm has a market cap of $16.30 billion, a PE ratio of 22.74, a PEG ratio of 2.01 and a beta of 1.41. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The company has a 50 day moving average of $71.96 and a two-hundred day moving average of $71.20. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last posted 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 business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.53 billion. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The company's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. Research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors 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 yield of 1.78%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry's dividend payout ratio (DPR) is presently 36.84%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TPR. Telsey Advisory Group restated an "outperform" rating and set a $92.00 price objective on shares of Tapestry in a research report on Friday, May 9th. Wall Street Zen upgraded Tapestry from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Wells Fargo & Company reiterated an "overweight" rating and set a $100.00 target price (up from $90.00) on shares of Tapestry in a research report on Wednesday, May 14th. Citigroup increased their price target on Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Barclays increased their price objective on shares of Tapestry from $83.00 to $98.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and an average target price of $83.89.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 1,399 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $81.88, for a total transaction of $114,550.12. Following the transaction, the vice president now owns 40,922 shares in the company, valued at $3,350,693.36. This trade represents a 3.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd Kahn sold 40,000 shares of Tapestry stock in a transaction dated Monday, May 12th. The stock was 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 in the company, valued at approximately $9,447,446.80. The trade was a 25.63% 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 insiders.

Tapestry 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.