Jefferies Financial Group Inc. Invests $562,000 in Tapestry, Inc. (NYSE:TPR)

Jefferies Financial Group Inc. purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,608 shares of the luxury accessories retailer's stock, valued at approximately $562,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ameriprise Financial Inc. increased 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 valued at $527,799,000 after buying an additional 370,784 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Tapestry by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock valued at $522,471,000 after acquiring an additional 382,856 shares in the last quarter. Geode Capital Management LLC increased 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 worth $376,247,000 after acquiring an additional 176,717 shares during the period. Alliancebernstein L.P. lifted its stake in Tapestry by 15.2% in the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after purchasing an additional 546,497 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Tapestry by 3.0% in the 4th quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock worth $183,909,000 after purchasing an additional 83,222 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 1,399 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $81.88, for a total value of $114,550.12. Following the completion of the transaction, the vice president now owns 40,922 shares of the company's stock, valued at approximately $3,350,693.36. The trade was a 3.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the transaction, the chief executive officer now owns 201,531 shares in the company, valued at approximately $17,652,100.29. This trade represents a 3.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,936 shares of company stock worth $9,101,139. 1.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TPR has been the topic of a number of recent analyst reports. Barclays increased their price objective on Tapestry from $83.00 to $98.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Raymond James reissued an "outperform" rating and set a $85.00 price objective (up previously from $74.00) on shares of Tapestry in a report on Friday, May 9th. The Goldman Sachs Group raised their target price on shares of Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Redburn Atlantic raised shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target for the company in a research note on Tuesday, February 18th. Finally, UBS Group raised their price objective on shares of Tapestry from $68.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $83.89.

Tapestry Trading Up 0.1%

Tapestry stock traded up $0.09 during trading hours on Tuesday, reaching $82.46. The stock had a trading volume of 2,343,521 shares, compared to its average volume of 4,211,353. The stock has a market cap of $17.13 billion, a PE ratio of 23.90, a PEG ratio of 2.01 and a beta of 1.41. The company has a fifty day simple moving average of $70.74 and a 200-day simple moving average of $69.54. 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, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.14. The business had revenue of $1.58 billion during 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%. Tapestry's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 EPS. Analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, June 6th. Tapestry's payout ratio is currently 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.