Tapestry, Inc. (NYSE:TPR) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,092,843 shares of the luxury accessories retailer's stock after buying an additional 370,784 shares during the period. Ameriprise Financial Inc. owned approximately 3.47% of Tapestry worth $527,799,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new stake in Tapestry during the 3rd quarter worth approximately $333,000. Tidal Investments LLC raised its stake in shares of Tapestry by 1.8% during the third quarter. Tidal Investments LLC now owns 27,401 shares of the luxury accessories retailer's stock worth $1,287,000 after purchasing an additional 481 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Tapestry by 10.6% during the third quarter. Franklin Resources Inc. now owns 163,234 shares of the luxury accessories retailer's stock worth $7,442,000 after purchasing an additional 15,585 shares during the period. Retirement Systems of Alabama increased its stake in Tapestry by 1.0% in the 3rd quarter. Retirement Systems of Alabama now owns 51,180 shares of the luxury accessories retailer's stock valued at $2,404,000 after buying an additional 493 shares during the period. Finally, GAMMA Investing LLC raised its position in Tapestry by 23.8% during the 4th quarter. GAMMA Investing LLC now owns 7,544 shares of the luxury accessories retailer's stock worth $493,000 after buying an additional 1,449 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TPR shares. Wells Fargo & Company dropped their price target on shares of Tapestry from $100.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Evercore ISI increased their target price on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Redburn Atlantic upgraded Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target on the stock in a research note on Tuesday, February 18th. Barclays cut their price objective on Tapestry from $100.00 to $83.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, StockNews.com lowered shares of Tapestry from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and a consensus target price of $78.47.

Tapestry Trading Up 3.2 %

Tapestry stock opened at $72.75 on Monday. The stock has a market cap of $15.06 billion, a PE ratio of 21.09, a P/E/G ratio of 2.01 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The stock has a 50-day moving average price of $70.64 and a 200 day moving average price of $67.03. 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 posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates 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 period last year, the firm earned $1.63 earnings per share. Equities research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is 40.58%.

Insider Activity

In related news, CEO Todd Kahn sold 7,786 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the sale, the chief executive officer now directly owns 201,531 shares in the company, valued at approximately $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. This represents a 14.93 % decrease in their position. 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 over the last quarter. Company insiders own 1.18% of the company's stock.

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.

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