Amalgamated Bank Has $2.92 Million Position in Tapestry, Inc. (NYSE:TPR)

Amalgamated Bank trimmed its position in shares of Tapestry, Inc. (NYSE:TPR) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,642 shares of the luxury accessories retailer’s stock after selling 554 shares during the quarter. Amalgamated Bank’s holdings in Tapestry were worth $2,916,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its position in Tapestry by 0.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock worth $1,261,000 after buying an additional 170 shares during the period. Valley National Advisers Inc. increased its position in Tapestry by 0.5% in the 4th quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer’s stock valued at $2,831,000 after acquiring an additional 202 shares during the period. Redwood Investment Management LLC raised its stake in shares of Tapestry by 0.4% during 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 acquiring an additional 204 shares during the last quarter. IRON Financial LLC lifted its holdings in shares of Tapestry by 4.5% during the fourth quarter. IRON Financial LLC now owns 4,882 shares of the luxury accessories retailer’s stock worth $319,000 after purchasing an additional 208 shares during the period. Finally, Lebenthal Global Advisors LLC lifted its holdings in shares of Tapestry by 2.8% during the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after purchasing an additional 215 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Tapestry Price Performance

Shares of NYSE TPR opened at $85.38 on Friday. The firm has a market capitalization of $17.67 billion, a P/E ratio of 24.75, a P/E/G ratio of 2.01 and a beta of 1.58. The firm’s 50-day moving average price is $74.79 and its 200-day moving average price is $58.26. 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 1-year low of $35.23 and a 1-year high of $90.85.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping 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 quarter in the prior year, the company posted $1.63 EPS. Equities research analysts anticipate 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, March 24th. Investors of record on Thursday, March 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Thursday, March 6th. Tapestry’s dividend payout ratio is currently 40.58%.

Insider Activity at Tapestry

In other news, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of Tapestry 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 transaction, the chief executive officer now directly owns 201,531 shares in the company, valued at approximately $17,652,100.29. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on TPR. Jefferies Financial Group increased their price objective on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Robert W. Baird increased their price target on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Guggenheim increased their target price on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Redburn Atlantic upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.