Tapestry, Inc. (NYSE:TPR) Shares Purchased by Fund 1 Investments LLC

Fund 1 Investments LLC boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 132.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 511,525 shares of the luxury accessories retailer’s stock after purchasing an additional 291,371 shares during the quarter. Tapestry makes up approximately 2.9% of Fund 1 Investments LLC’s holdings, making the stock its 11th largest holding. Fund 1 Investments LLC owned about 0.22% of Tapestry worth $33,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of Tapestry by 10.6% in the 3rd quarter. Franklin Resources Inc. now owns 163,234 shares of the luxury accessories retailer’s stock worth $7,442,000 after buying an additional 15,585 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in Tapestry by 1.0% in the third quarter. Retirement Systems of Alabama now owns 51,180 shares of the luxury accessories retailer’s stock worth $2,404,000 after acquiring an additional 493 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Tapestry by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 71,845 shares of the luxury accessories retailer’s stock valued at $4,694,000 after acquiring an additional 898 shares during the period. Czech National Bank grew its holdings in shares of Tapestry by 7.7% during the fourth quarter. Czech National Bank now owns 50,527 shares of the luxury accessories retailer’s stock valued at $3,301,000 after purchasing an additional 3,629 shares during the last quarter. Finally, Reinhart Partners LLC. acquired a new stake in shares of Tapestry during the 4th quarter worth approximately $5,969,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tapestry

In other news, 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 transaction, the chief executive officer now owns 176,985 shares in the company, valued at approximately $14,866,740. This trade represents a 10.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott A. Roe sold 25,727 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was 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 directly owns 146,587 shares of the company’s stock, valued at $12,688,570.72. This represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by insiders.

Analysts Set New Price Targets

TPR has been the subject of a number of recent analyst reports. Telsey Advisory Group reissued an “outperform” rating and issued a $92.00 price objective on shares of Tapestry in a report on Thursday, May 1st. UBS Group upped their price objective on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. Finally, Morgan Stanley raised shares of Tapestry from an “equal weight” rating to an “overweight” rating and set a $90.00 price objective on the stock in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.79.

Tapestry Stock Performance

Shares of Tapestry stock opened at $77.48 on Friday. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month 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 stock has a market cap of $16.04 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The business has a fifty day simple moving average of $69.81 and a 200-day simple moving average of $67.55.

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

Tapestry Dividend Announcement

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

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.