Lighthouse Investment Partners LLC Buys Shares of 4,255 Tapestry, Inc. (NYSE:TPR)

Lighthouse Investment Partners LLC bought a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,255 shares of the luxury accessories retailer's stock, valued at approximately $278,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Interval Partners LP increased its stake in Tapestry by 59.5% during the 4th quarter. Interval Partners LP now owns 1,179,585 shares of the luxury accessories retailer's stock valued at $77,062,000 after buying an additional 439,875 shares during the period. Janus Henderson Group PLC raised its holdings in Tapestry by 0.5% during the 4th quarter. Janus Henderson Group PLC now owns 113,637 shares of the luxury accessories retailer's stock worth $7,427,000 after buying an additional 534 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Tapestry in the fourth quarter worth about $562,000. Greenline Partners LLC acquired a new stake in Tapestry during the 4th quarter valued at $29,000. Finally, Focus Partners Wealth lifted its stake in Tapestry by 33.3% in the 4th quarter. Focus Partners Wealth now owns 19,816 shares of the luxury accessories retailer's stock worth $1,295,000 after acquiring an additional 4,952 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $81.40, for a total value of $3,256,000.00. Following the completion of the sale, the chief executive officer now owns 116,062 shares of the company's stock, valued at $9,447,446.80. This trade represents a 25.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the sale, the general counsel now directly owns 38,609 shares of the company's stock, valued at $3,397,592. This trade represents a 23.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,936 shares of company stock valued at $9,101,139 in the last three months. 1.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TPR. Evercore ISI increased their price target on shares of Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Raymond James reiterated an "outperform" rating and issued a $85.00 target price (up previously from $74.00) on shares of Tapestry in a research report on Friday, May 9th. JPMorgan Chase & Co. lifted their target price on shares of Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Wells Fargo & Company reiterated an "overweight" rating and set a $100.00 price objective (up from $90.00) on shares of Tapestry in a report on Wednesday, May 14th. Finally, Morgan Stanley raised Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price objective for the company in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $83.89.

Tapestry Stock Performance

Tapestry stock traded down $0.54 on Monday, hitting $82.28. The company's stock had a trading volume of 2,512,138 shares, compared to its average volume of 4,218,824. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The firm has a market cap of $17.09 billion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. 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 company has a fifty day moving average price of $70.53 and a 200-day moving average price of $69.30.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.14. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.53 billion. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The company's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. On average, equities analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Friday, June 6th. Tapestry's dividend payout ratio (DPR) is currently 36.84%.

Tapestry Company 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.