Hood River Capital Management LLC Acquires New Stake in Tapestry, Inc. (NYSE:TPR)

Hood River Capital Management LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 79,500 shares of the luxury accessories retailer's stock, valued at approximately $5,194,000.

Other large investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC increased its stake in Tapestry by 78.0% in 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 during the last quarter. Canada Post Corp Registered Pension Plan bought a new position in Tapestry in the fourth quarter valued at approximately $48,000. UMB Bank n.a. increased its stake in Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock valued at $77,000 after acquiring an additional 496 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Tapestry by 1,792.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock valued at $78,000 after acquiring an additional 1,129 shares in the last quarter. Finally, Atlas Capital Advisors Inc. boosted its holdings in shares of Tapestry by 527.2% during the 4th quarter. Atlas Capital Advisors Inc. now owns 1,267 shares of the luxury accessories retailer's stock valued at $83,000 after acquiring an additional 1,065 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Trading Up 0.3 %

Shares of TPR traded up $0.18 during mid-day trading on Tuesday, hitting $69.44. 797,780 shares of the company's stock traded hands, compared to its average volume of 4,160,023. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The business's 50-day moving average price is $71.75 and its 200-day moving average price is $66.31. The firm has a market capitalization of $14.38 billion, a P/E ratio of 20.12, a PEG ratio of 2.01 and a beta of 1.37.

Tapestry (NYSE:TPR - Get Free Report) last announced its 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 net margin of 11.74% and a return on equity of 44.00%. During the same quarter last year, the business earned $1.63 earnings per share. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.02%. Tapestry's dividend payout ratio is 40.58%.

Insider Buying and Selling

In other Tapestry news, CEO Todd Kahn sold 21,107 shares of the business'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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott A. Roe sold 25,727 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were 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 $12,688,570.72. This trade represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is owned by insiders.

Analyst Ratings Changes

TPR has been the topic of several recent research reports. Morgan Stanley reaffirmed an "equal weight" rating and set a $65.00 target price on shares of Tapestry in a report on Tuesday, January 21st. Citigroup decreased their price objective on Tapestry from $95.00 to $81.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Telsey Advisory Group boosted their target price on Tapestry from $74.00 to $83.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Barclays reduced their price objective on Tapestry from $100.00 to $83.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $78.26.

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.