Fund 1 Investments LLC Purchases 291,371 Shares of Tapestry, Inc. (NYSE:TPR)

Fund 1 Investments LLC boosted its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 132.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 511,525 shares of the luxury accessories retailer's stock after acquiring an additional 291,371 shares during the quarter. Tapestry accounts for 2.9% of Fund 1 Investments LLC's portfolio, making the stock its 11th largest position. Fund 1 Investments LLC owned about 0.22% of Tapestry worth $33,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the business. Coppell Advisory Solutions LLC boosted its holdings in Tapestry by 40.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after acquiring an additional 252 shares during the last quarter. Canada Post Corp Registered Pension Plan bought a new position in Tapestry in the fourth quarter valued at about $48,000. UMB Bank n.a. boosted its holdings in Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock valued at $77,000 after acquiring an additional 496 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Tapestry by 1,792.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock valued at $78,000 after acquiring an additional 1,129 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

Shares of TPR stock traded up $4.55 during trading on Monday, reaching $82.56. 5,627,283 shares of the company's stock were exchanged, compared to its average volume of 4,222,506. 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 firm's fifty day moving average price is $69.78 and its 200-day moving average price is $68.34. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The stock has a market capitalization of $17.09 billion, a PE ratio of 23.93, a PEG ratio of 2.01 and a beta of 1.41.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data 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. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm posted $0.81 EPS. The company's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

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

Insider Buying and Selling at Tapestry

In related news, General Counsel David E. Howard sold 11,917 shares of the company's stock in a transaction on Thursday, February 20th. The stock was 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 directly owns 38,609 shares in the company, valued at $3,397,592. This represents a 23.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Kahn sold 7,786 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the sale, the chief executive officer now owns 201,531 shares of the company's stock, valued at approximately $17,652,100.29. This represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,537 shares of company stock valued at $8,986,589 in the last ninety days. 1.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TPR has been the topic of a number of recent analyst reports. Robert W. Baird raised their target price on Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Evercore ISI raised their target price on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Raymond James restated an "outperform" rating and set a $85.00 target price (up previously from $74.00) on shares of Tapestry in a report on Friday. Telsey Advisory Group restated an "outperform" rating and set a $92.00 target price on shares of Tapestry in a report on Friday. Finally, Guggenheim raised their target price on Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Five research analysts have rated the stock with a hold rating and fifteen have given 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 $83.06.

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.