First Trust Advisors LP Has $34.26 Million Stock Position in Tapestry, Inc. (NYSE:TPR)

First Trust Advisors LP grew its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 53.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 524,339 shares of the luxury accessories retailer's stock after purchasing an additional 183,527 shares during the quarter. First Trust Advisors LP owned approximately 0.22% of Tapestry worth $34,255,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Venturi Wealth Management LLC lifted its holdings in Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after buying an additional 252 shares during the last quarter. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Tapestry during the 4th quarter valued at approximately $48,000. UMB Bank n.a. lifted its stake in Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock worth $77,000 after purchasing an additional 496 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Tapestry by 1,792.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock worth $78,000 after purchasing an additional 1,129 shares during the period. Finally, Atlas Capital Advisors Inc. increased its stake in Tapestry by 527.2% during the fourth quarter. Atlas Capital Advisors Inc. now owns 1,267 shares of the luxury accessories retailer's stock valued at $83,000 after purchasing an additional 1,065 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

Insider Buying and Selling at Tapestry

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the transaction, the chief financial officer now owns 146,587 shares of the company's stock, valued at approximately $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the sale, the general counsel now directly owns 38,609 shares of the company's stock, valued at approximately $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TPR has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their price target on shares of Tapestry from $98.00 to $84.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Redburn Atlantic raised shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 target price on the stock in a report on Tuesday, February 18th. UBS Group upped their target price on Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Friday, February 7th. JPMorgan Chase & Co. raised their price target on Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, Evercore ISI boosted their price objective on Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $78.00.

Tapestry Price Performance

Shares of Tapestry stock traded up $0.61 on Wednesday, hitting $70.65. The company had a trading volume of 4,417,640 shares, compared to its average volume of 4,166,728. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. The company has a market cap of $14.63 billion, a PE ratio of 20.48, a PEG ratio of 2.01 and a beta of 1.37. The business has a 50-day simple moving average of $71.14 and a 200-day simple moving average of $66.37. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter in the previous year, the firm posted $1.63 EPS. Research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.98%. The ex-dividend date was Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is presently 40.58%.

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.