Aquatic Capital Management LLC Has $2.79 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Aquatic Capital Management LLC trimmed its position in Tapestry, Inc. (NYSE:TPR) by 87.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,648 shares of the luxury accessories retailer’s stock after selling 301,452 shares during the quarter. Aquatic Capital Management LLC’s holdings in Tapestry were worth $2,786,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TPR. Charles Schwab Investment Management Inc. raised its stake in Tapestry by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock worth $522,471,000 after acquiring an additional 382,856 shares in the last quarter. Geode Capital Management LLC raised its stake in Tapestry by 3.2% during the fourth 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 in the last quarter. Alliancebernstein L.P. raised its stake in Tapestry by 15.2% during the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer’s stock worth $270,304,000 after acquiring an additional 546,497 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Tapestry by 593.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer’s stock worth $143,198,000 after acquiring an additional 1,875,753 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in 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 worth $138,596,000 after acquiring an additional 298,409 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Up 0.5 %

TPR stock opened at $69.21 on Tuesday. The stock’s fifty day simple moving average is $71.75 and its two-hundred day simple moving average is $66.31. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $90.85. The stock has a market cap of $14.33 billion, a P/E ratio of 20.06, a P/E/G ratio of 2.01 and a beta of 1.37.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (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 quarter last year, the business posted $1.63 EPS. Analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry’s dividend payout ratio is presently 40.58%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TPR. Telsey Advisory Group increased their target price on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Guggenheim increased 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. JPMorgan Chase & Co. raised their price target on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI raised their price target on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, Citigroup decreased their price target on Tapestry from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Six investment 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, the company has a consensus rating of “Moderate Buy” and an average price target of $78.26.

Insider Activity at Tapestry

In other news, CEO Todd Kahn sold 7,786 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the sale, the chief executive officer now directly owns 201,531 shares of the company’s stock, valued at $17,652,100.29. This represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock worth $5,730,589 in the last ninety days. 1.18% of the stock is owned by company insiders.

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.