Greenline Partners LLC Invests $29,000 in Tapestry, Inc. (NYSE:TPR)

Greenline Partners LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 447 shares of the luxury accessories retailer’s stock, valued at approximately $29,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC increased its stake in Tapestry by 40.7% during 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 period. Venturi Wealth Management LLC raised its stake in shares of 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 purchasing an additional 252 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new position in Tapestry in the fourth quarter worth $48,000. UMB Bank n.a. boosted its stake in Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after buying an additional 496 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Tapestry by 1,792.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer’s stock valued at $78,000 after buying an additional 1,129 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Trading Up 0.6 %

Shares of NYSE TPR opened at $78.00 on Friday. The company’s 50 day simple moving average is $69.75 and its 200 day simple moving average is $67.95. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The firm has a market capitalization of $16.15 billion, a P/E ratio of 22.61, a P/E/G ratio of 2.01 and a beta of 1.41.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, topping 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 analysts’ expectations of $1.53 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors 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 1.79%. The ex-dividend date is Friday, June 6th. Tapestry’s dividend payout ratio is currently 40.58%.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 21,107 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the completion of the transaction, the chief executive officer now directly owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction dated Thursday, February 20th. The shares were 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 in the company, valued at $3,397,592. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,537 shares of company stock valued at $5,730,589. Corporate insiders own 1.18% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TPR. Jefferies Financial Group increased their price target on shares of Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. UBS Group raised their target price on Tapestry from $68.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday. Raymond James reiterated an “outperform” rating and set a $85.00 price objective (up from $74.00) on shares of Tapestry in a research note on Friday. Guggenheim boosted their target price on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Robert W. Baird increased their target price on shares of Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.22.

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.