Mufg Securities Americas Inc. Makes New $225,000 Investment in Tapestry, Inc. (NYSE:TPR)

Mufg Securities Americas Inc. bought a new position in shares of Tapestry, Inc. (NYSE:TPR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,441 shares of the luxury accessories retailer’s stock, valued at approximately $225,000.

Several other institutional investors have also recently bought and sold shares of TPR. Apollon Wealth Management LLC acquired a new position in shares of Tapestry in the fourth quarter valued at approximately $328,000. Charles Schwab Investment Management Inc. increased its stake in shares of 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 during the period. Abacus FCF Advisors LLC increased its stake in shares of Tapestry by 46.2% in the fourth quarter. Abacus FCF Advisors LLC now owns 45,487 shares of the luxury accessories retailer’s stock valued at $2,972,000 after buying an additional 14,384 shares during the period. Principal Financial Group Inc. increased its stake in shares of Tapestry by 14.6% in the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer’s stock valued at $20,195,000 after buying an additional 39,298 shares during the period. Finally, Pzena Investment Management LLC acquired a new position in shares of Tapestry in the fourth quarter valued at approximately $18,737,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of TPR stock opened at $82.77 on Friday. The company has a market cap of $17.19 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. 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 firm has a 50 day moving average of $70.53 and a 200-day moving average of $69.15.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.14. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $0.81 EPS. Tapestry’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry’s payout ratio is currently 36.84%.

Insider Activity at Tapestry

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. This trade represents a 14.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Kahn sold 7,786 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the transaction, the chief executive officer now owns 201,531 shares in the company, valued at approximately $17,652,100.29. This trade represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,936 shares of company stock valued at $9,101,139. 1.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TPR. Evercore ISI upped their price objective on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. UBS Group increased their target price on shares of Tapestry from $68.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Jefferies Financial Group increased their target price on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $100.00 target price (up previously from $90.00) on shares of Tapestry in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $83.89.

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.