Lido Advisors LLC Grows Position in Tapestry, Inc. (NYSE:TPR)

Lido Advisors LLC grew its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 149.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,862 shares of the luxury accessories retailer's stock after acquiring an additional 7,103 shares during the quarter. Lido Advisors LLC's holdings in Tapestry were worth $775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Coppell Advisory Solutions LLC grew its position in Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of Tapestry by 1.9% in the fourth quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer's stock valued at $580,000 after acquiring an additional 163 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Tapestry by 0.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer's stock valued at $1,261,000 after acquiring an additional 170 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Tapestry by 13.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer's stock worth $104,000 after acquiring an additional 182 shares during the period. Finally, E Fund Management Co. Ltd. boosted its position in Tapestry by 1.6% in the fourth quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer's stock worth $833,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Up 3.2 %

TPR opened at $72.75 on Friday. The firm has a market capitalization of $15.06 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The company has a fifty day moving average price of $70.64 and a 200-day moving average price of $66.88. 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 announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates 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 period last year, the company posted $1.63 EPS. Equities research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.92%. Tapestry's payout ratio is presently 40.58%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TPR. UBS Group lifted their target price on Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. The Goldman Sachs Group dropped their target price on shares of Tapestry from $98.00 to $84.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Telsey Advisory Group restated an "outperform" rating and set a $92.00 price target on shares of Tapestry in a research note on Thursday. Guggenheim increased their price objective on Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, StockNews.com downgraded Tapestry from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Tapestry currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.47.

Insiders Place Their Bets

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the chief executive officer now owns 176,985 shares of the company's stock, valued at approximately $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock valued at $5,730,589 in the last quarter. Corporate insiders own 1.18% of the company's stock.

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.

Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry, Inc. (NYSE:TPR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.