Interval Partners LP Boosts Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Interval Partners LP lifted its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 59.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,179,585 shares of the luxury accessories retailer's stock after buying an additional 439,875 shares during the quarter. Tapestry makes up about 1.5% of Interval Partners LP's portfolio, making the stock its 15th biggest position. Interval Partners LP owned 0.51% of Tapestry worth $77,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in shares of Tapestry by 0.5% during the fourth quarter. Janus Henderson Group PLC now owns 113,637 shares of the luxury accessories retailer's stock worth $7,427,000 after purchasing an additional 534 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in Tapestry in the 4th quarter valued at about $562,000. Greenline Partners LLC bought a new position in Tapestry in the 4th quarter worth about $29,000. Focus Partners Wealth increased its position in shares of Tapestry by 33.3% during the fourth 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 during the period. Finally, Fund 1 Investments LLC raised its stake in shares of Tapestry by 132.3% during the fourth quarter. Fund 1 Investments LLC now owns 511,525 shares of the luxury accessories retailer's stock valued at $33,418,000 after acquiring an additional 291,371 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on TPR shares. The Goldman Sachs Group raised their price objective on Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Morgan Stanley raised Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price target on the stock in a research report on Thursday, May 8th. Raymond James restated an "outperform" rating and issued a $85.00 price objective (up from $74.00) on shares of Tapestry in a report on Friday, May 9th. Citigroup upped their price objective on shares of Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Tapestry currently has an average rating of "Moderate Buy" and an average price target of $83.89.

Insiders Place Their Bets

In related news, VP Manesh Dadlani sold 1,399 shares of Tapestry stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $81.88, for a total transaction of $114,550.12. Following the completion of the sale, the vice president now owns 40,922 shares of the company's stock, valued at $3,350,693.36. The trade was a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of the company'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 sale, the chief executive officer now directly owns 201,531 shares in the company, valued at $17,652,100.29. This trade represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 107,936 shares of company stock valued at $9,101,139. Insiders own 1.18% of the company's stock.

Tapestry Stock Down 0.7%

Shares of TPR traded down $0.55 during midday trading on Wednesday, hitting $83.05. 4,863,598 shares of the company's stock traded hands, compared to its average volume of 4,226,858. 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 market capitalization of $17.19 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The firm's fifty day moving average is $70.06 and its 200-day moving average is $68.54.

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

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors 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 yield of 1.69%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry's dividend payout ratio (DPR) is presently 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.