Tapestry, Inc. (NYSE:TPR) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC increased its position in shares of Tapestry, Inc. (NYSE:TPR) by 95.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,779 shares of the luxury accessories retailer’s stock after purchasing an additional 31,695 shares during the period. Ieq Capital LLC’s holdings in Tapestry were worth $4,232,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Waldron Private Wealth LLC acquired a new position in shares of Tapestry during the third quarter worth $25,000. Venturi Wealth Management LLC boosted its stake in Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after acquiring an additional 252 shares in the last quarter. Brooklyn Investment Group acquired a new position in Tapestry in the third quarter valued at $47,000. Deseret Mutual Benefit Administrators boosted its stake in Tapestry by 68.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after acquiring an additional 605 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. boosted its stake in Tapestry by 159,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after acquiring an additional 1,591 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the transaction, the general counsel now directly owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.18% of the stock is currently owned by corporate insiders.

Tapestry Trading Down 2.2 %

NYSE TPR opened at $84.60 on Friday. The stock has a market capitalization of $17.51 billion, a P/E ratio of 24.52, a P/E/G ratio of 2.07 and a beta of 1.58. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The firm has a 50-day moving average price of $72.63 and a 200 day moving average price of $56.48. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same period in the previous year, the firm earned $1.63 earnings per share. Equities research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.65%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. 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. The Goldman Sachs Group upped their price objective on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Telsey Advisory Group upped their price objective on shares of Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. UBS Group upped their price objective on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $78.53.

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.