Maven Securities LTD Makes New $204,000 Investment in Tapestry, Inc. (NYSE:TPR)

Maven Securities LTD acquired a new position in Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 3,120 shares of the luxury accessories retailer's stock, valued at approximately $204,000.

A number of other large investors have also recently added to or reduced their stakes in TPR. Greenline Partners LLC purchased a new position in Tapestry in the 4th quarter valued at about $29,000. Coppell Advisory Solutions LLC lifted its stake in shares of Tapestry by 40.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after buying an additional 150 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after buying an additional 252 shares during the period. Canada Post Corp Registered Pension Plan acquired a new stake in Tapestry during the fourth quarter worth approximately $48,000. Finally, UMB Bank n.a. grew its stake in Tapestry by 72.9% in the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock worth $77,000 after acquiring an additional 496 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TPR. UBS Group increased their price target on Tapestry from $68.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Wells Fargo & Company reiterated an "overweight" rating and set a $100.00 target price (up from $90.00) on shares of Tapestry in a research report on Wednesday. The Goldman Sachs Group upped their price objective 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. Jefferies Financial Group increased their price objective on shares of Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Finally, Evercore ISI boosted their target price on shares of Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $83.89.

Insider Transactions at Tapestry

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 201,531 shares of the company's stock, valued at $17,652,100.29. This trade represents a 3.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the company's stock in a transaction dated 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 completion of the sale, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. This trade represents a 23.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 107,936 shares of company stock valued at $9,101,139. 1.18% of the stock is currently owned by insiders.

Tapestry Stock Down 0.6%

Shares of TPR stock traded down $0.47 during trading hours on Friday, reaching $82.77. The company had a trading volume of 2,552,671 shares, compared to its average volume of 4,225,678. The company has a market capitalization of $17.19 billion, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The stock's fifty day simple moving average is $70.53 and its 200 day simple moving average is $69.15.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.14. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm earned $0.81 earnings per share. The business's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm 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 dividend of $0.35 per share. The ex-dividend date is Friday, June 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.69%. Tapestry's dividend payout ratio is presently 36.84%.

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.