Wealth Enhancement Advisory Services LLC Grows Stock Position in Tapestry, Inc. (NYSE:TPR)

Wealth Enhancement Advisory Services LLC grew its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 21.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 94,205 shares of the luxury accessories retailer's stock after purchasing an additional 16,407 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Tapestry were worth $6,633,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of TPR. Greenline Partners LLC bought a new stake in shares of Tapestry in the 4th quarter worth $29,000. Coppell Advisory Solutions LLC increased its holdings in Tapestry by 40.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after buying an additional 150 shares during the last quarter. Venturi Wealth Management LLC raised its position in Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after acquiring an additional 252 shares in the last quarter. Canada Post Corp Registered Pension Plan acquired a new stake in Tapestry in the fourth quarter valued at approximately $48,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in Tapestry by 25.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock worth $68,000 after acquiring an additional 194 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 1,399 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $81.88, for a total transaction of $114,550.12. Following the sale, the vice president now directly owns 40,922 shares of the company's stock, valued at approximately $3,350,693.36. This trade represents a 3.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Kahn sold 40,000 shares of the firm's 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 sale, the chief executive officer now directly owns 116,062 shares in the company, 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 own 1.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TPR shares. Barclays upped their price target on Tapestry from $83.00 to $98.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $100.00 target price (up from $90.00) on shares of Tapestry in a research note on Wednesday, May 14th. Citigroup upped their target price on shares of Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Argus raised their price target on shares of Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Finally, UBS Group boosted their price objective on shares of Tapestry from $68.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.78.

Tapestry Trading Up 1.1%

TPR stock traded up $0.94 during trading on Friday, hitting $87.16. 7,819,987 shares of the company traded hands, compared to its average volume of 4,325,779. The company has a 50-day moving average of $78.40 and a 200-day moving average of $74.25. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.22 and a current ratio of 1.76. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The firm has a market capitalization of $18.10 billion, a PE ratio of 22.94, a P/E/G ratio of 1.94 and a beta of 1.46.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.53 billion. Tapestry had a net margin of 12.50% and a return on equity of 51.84%. During the same quarter in the previous year, the company earned $0.81 earnings per share. Tapestry's quarterly revenue was up 6.9% on a year-over-year basis. Analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, June 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.61%. Tapestry's payout ratio is presently 36.84%.

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.