Tapestry, Inc. (NYSE:TPR) Shares Acquired by Systematic Financial Management LP

Systematic Financial Management LP grew its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 405,659 shares of the luxury accessories retailer’s stock after buying an additional 10,343 shares during the period. Systematic Financial Management LP owned 0.17% of Tapestry worth $26,502,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Greenline Partners LLC purchased a new position in shares of Tapestry during the 4th quarter valued at $29,000. Coppell Advisory Solutions LLC grew 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 worth $34,000 after buying an additional 150 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after buying an additional 252 shares during the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in shares of Tapestry during the fourth quarter valued at approximately $48,000. Finally, UMB Bank n.a. lifted its holdings in Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after buying an additional 496 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 0.6%

Shares of Tapestry stock opened at $82.77 on Friday. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The business’s 50 day moving average is $70.53 and its 200-day moving average is $69.00. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The stock has a market cap of $17.19 billion, a P/E ratio of 23.99, a P/E/G ratio of 2.01 and a beta of 1.41.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (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 company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the company earned $0.81 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Friday, June 6th. Tapestry’s payout ratio is presently 36.84%.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $81.40, for a total value of $3,256,000.00. Following the transaction, the chief executive officer now directly owns 116,062 shares in the company, valued at approximately $9,447,446.80. This trade represents a 25.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. This trade represents a 23.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,936 shares of company stock valued at $9,101,139 in the last 90 days. Insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TPR. Guggenheim increased their price objective on shares of Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. The Goldman Sachs Group boosted their target price on shares of Tapestry from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Jefferies Financial Group upped their price objective on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Robert W. Baird raised 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, Telsey Advisory Group restated an “outperform” rating and set a $92.00 price objective on shares of Tapestry in a report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.89.

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.