TD Waterhouse Canada Inc. Acquires 4,377 Shares of Tapestry, Inc. (NYSE:TPR)

TD Waterhouse Canada Inc. raised its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 1,020.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,806 shares of the luxury accessories retailer's stock after buying an additional 4,377 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Tapestry were worth $314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TPR. Charles Schwab Investment Management Inc. boosted its position in Tapestry by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock valued at $522,471,000 after buying an additional 382,856 shares in the last quarter. Geode Capital Management LLC grew its position in Tapestry by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock worth $376,247,000 after acquiring an additional 176,717 shares during the last quarter. Alliancebernstein L.P. raised its position in Tapestry by 15.2% in the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock valued at $270,304,000 after purchasing an additional 546,497 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Tapestry by 16.4% during the fourth quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer's stock valued at $138,596,000 after purchasing an additional 298,409 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Tapestry in the fourth quarter valued at approximately $114,199,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on TPR shares. Morgan Stanley restated an "equal weight" rating and issued a $65.00 price objective on shares of Tapestry in a report on Tuesday, January 21st. StockNews.com downgraded Tapestry from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Barclays reduced their target price on Tapestry from $100.00 to $83.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Robert W. Baird upped their price objective on shares of Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company lowered their target price on shares of Tapestry from $100.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Tapestry has a consensus rating of "Moderate Buy" and a consensus target price of $78.00.

Tapestry Stock Down 0.3 %

TPR traded down $0.22 during midday trading on Wednesday, reaching $69.82. 2,938,706 shares of the company were exchanged, compared to its average volume of 5,723,934. The company has a market cap of $14.45 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The company's fifty day moving average price is $71.42 and its 200 day moving average price is $66.34. 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 (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period last year, the company posted $1.63 earnings per share. As a group, analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Thursday, March 6th. Tapestry's payout ratio is 40.58%.

Insiders Place Their Bets

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the transaction, the general counsel now owns 38,609 shares of the company's stock, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott A. Roe sold 25,727 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the transaction, the chief financial officer now owns 146,587 shares of the company's stock, valued at $12,688,570.72. This trade represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock valued at $5,730,589 in the last 90 days. 1.18% of the stock is currently owned by corporate insiders.

Tapestry 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.