Todd Asset Management LLC Buys 11,287 Shares of Tapestry, Inc. (NYSE:TPR)

Todd Asset Management LLC increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 707,043 shares of the luxury accessories retailer’s stock after buying an additional 11,287 shares during the quarter. Tapestry accounts for about 1.1% of Todd Asset Management LLC’s investment portfolio, making the stock its 28th largest position. Todd Asset Management LLC owned 0.30% of Tapestry worth $46,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. grew its stake in shares of Tapestry by 0.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock worth $1,261,000 after purchasing an additional 170 shares during the period. Valley National Advisers Inc. lifted its holdings in shares of Tapestry by 0.5% in the fourth quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer’s stock valued at $2,831,000 after purchasing an additional 202 shares in the last quarter. Redwood Investment Management LLC lifted its holdings in shares of Tapestry by 0.4% in the third quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock valued at $2,269,000 after purchasing an additional 204 shares in the last quarter. IRON Financial LLC lifted its holdings in shares of Tapestry by 4.5% in the fourth quarter. IRON Financial LLC now owns 4,882 shares of the luxury accessories retailer’s stock valued at $319,000 after purchasing an additional 208 shares in the last quarter. Finally, Lebenthal Global Advisors LLC lifted its holdings in shares of Tapestry by 2.8% in the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the topic of a number of research reports. BMO Capital Markets boosted their price target on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, November 18th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company upped their target price on Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Redburn Atlantic upgraded Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Tuesday, February 18th. Finally, UBS Group upped their price objective on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.53.

Tapestry Trading Down 0.4 %

Shares of TPR stock opened at $84.29 on Tuesday. The stock’s fifty day moving average price is $73.04 and its two-hundred day moving average price is $57.08. The company has a market cap of $17.45 billion, a PE ratio of 24.43, a P/E/G ratio of 2.01 and a beta of 1.58. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period in the prior year, the firm posted $1.63 EPS. Equities analysts predict 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, March 24th. Investors of record on Thursday, March 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.66%. The ex-dividend date is Thursday, March 6th. Tapestry’s dividend payout ratio is currently 40.58%.

Insider Buying and Selling

In other news, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares of the company’s stock, valued at $3,397,592. The trade was a 23.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,430 shares of company stock valued at $3,957,601 in the last three months. Insiders own 1.18% of the company’s stock.

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.