Snowden Capital Advisors LLC Boosts Stake in Tapestry, Inc. (NYSE:TPR)

Snowden Capital Advisors LLC raised its position in Tapestry, Inc. (NYSE:TPR) by 4.8% during the fourth quarter, Holdings Channel reports. The firm owned 17,211 shares of the luxury accessories retailer’s stock after buying an additional 788 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Tapestry were worth $1,124,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC acquired a new position in Tapestry during the 4th quarter worth about $328,000. Charles Schwab Investment Management Inc. lifted its position in shares of 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 purchasing an additional 382,856 shares in the last quarter. Abacus FCF Advisors LLC boosted 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 purchasing an additional 14,384 shares during the period. Principal Financial Group Inc. grew its holdings 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 purchasing an additional 39,298 shares in the last quarter. Finally, Pzena Investment Management LLC purchased a new stake in Tapestry during the 4th quarter worth approximately $18,737,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Down 0.6%

TPR stock opened at $82.77 on Monday. The stock has a market cap of $17.19 billion, a P/E ratio of 23.99, a PEG ratio of 2.01 and a beta of 1.41. 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 twelve month low of $35.23 and a twelve month high of $90.85. The company’s 50 day moving average is $70.53 and its two-hundred day moving average is $69.30.

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

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry’s dividend payout ratio (DPR) is currently 36.84%.

Analysts Set New Price Targets

TPR has been the subject of several recent research reports. Telsey Advisory Group reissued an “outperform” rating and issued a $92.00 price target on shares of Tapestry in a research report on Friday, May 9th. Jefferies Financial Group lifted their target price on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Citigroup boosted their target price on Tapestry from $81.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. UBS Group increased their price target on Tapestry from $68.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Finally, Robert W. Baird boosted their price objective on Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.89.

Insider Activity

In other Tapestry news, VP Manesh Dadlani sold 1,399 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $81.88, for a total value of $114,550.12. Following the completion of the sale, the vice president now owns 40,922 shares in the company, valued at approximately $3,350,693.36. The trade was a 3.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 201,531 shares of the company’s stock, valued at $17,652,100.29. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 107,936 shares of company stock valued at $9,101,139. Insiders own 1.18% of the company’s stock.

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.