Fund 1 Investments LLC Has $33.42 Million Stake in Tapestry, Inc. (NYSE:TPR)

Fund 1 Investments LLC grew its holdings in Tapestry, Inc. (NYSE:TPR) by 132.3% during the 4th quarter, HoldingsChannel reports. The firm owned 511,525 shares of the luxury accessories retailer’s stock after acquiring an additional 291,371 shares during the quarter. Tapestry comprises about 2.9% of Fund 1 Investments LLC’s investment portfolio, making the stock its 11th biggest position. Fund 1 Investments LLC’s holdings in Tapestry were worth $33,418,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TPR. Price T Rowe Associates Inc. MD grew its position 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 buying an additional 1,875,753 shares in the last quarter. Norges Bank acquired a new position in shares of Tapestry in the fourth quarter valued at $114,199,000. Candlestick Capital Management LP bought a new position in Tapestry in the fourth quarter worth $66,902,000. WT Asset Management Ltd bought a new stake in shares of Tapestry during the 4th quarter valued at $42,762,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Tapestry in the 4th quarter valued at $38,180,000. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. 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. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $92.00 target price on shares of Tapestry in a research report on Thursday, May 1st. Evercore ISI increased their price objective on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Jefferies Financial Group upped their target price on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group cut their price objective on Tapestry from $98.00 to $84.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.79.

Tapestry Stock Performance

Shares of TPR stock opened at $77.48 on Friday. The business’s 50-day moving average price is $69.81 and its 200-day moving average price is $67.55. The firm has a market capitalization of $16.04 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.01 and a beta of 1.41. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. 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 (NYSE:TPR) last posted its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share 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 business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the business posted $0.81 earnings per share. Tapestry’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.81%. Tapestry’s payout ratio is currently 40.58%.

Insider Buying and Selling

In related news, CFO Scott A. Roe sold 25,727 shares of Tapestry 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 sale, the chief financial officer now owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd Kahn sold 21,107 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the completion of the transaction, the chief executive officer now directly owns 176,985 shares in the company, valued at $14,866,740. This trade represents a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock valued at $5,730,589 over the last 90 days. 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.