Tapestry, Inc. (NYSE:TPR) Shares Bought by Mizuho Securities USA LLC

Mizuho Securities USA LLC raised its stake in shares of Tapestry, Inc. (NYSE:TPR) by 47.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,087 shares of the luxury accessories retailer’s stock after acquiring an additional 7,158 shares during the period. Mizuho Securities USA LLC’s holdings in Tapestry were worth $1,443,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Apollon Wealth Management LLC acquired a new stake in Tapestry in the 4th quarter valued at approximately $328,000. Charles Schwab Investment Management Inc. grew its stake in shares of Tapestry by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock valued at $522,471,000 after buying an additional 382,856 shares in the last quarter. Decker Retirement Planning Inc. purchased a new stake in shares of Tapestry in the 4th quarter valued at $3,437,000. Principal Financial Group Inc. lifted its stake in Tapestry by 14.6% during the 4th quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer’s stock worth $20,195,000 after acquiring an additional 39,298 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Tapestry during the 3rd quarter valued at about $2,064,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Todd Kahn sold 21,107 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the transaction, the chief executive officer now owns 176,985 shares in the company, valued at $14,866,740. The trade was a 10.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 sale, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock valued at $5,730,589 in the last ninety days. 1.18% of the stock is currently owned by company insiders.

Tapestry Price Performance

Shares of NYSE:TPR opened at $74.70 on Wednesday. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The firm has a market capitalization of $15.46 billion, a P/E ratio of 21.65, a P/E/G ratio of 2.01 and a beta of 1.57. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The company’s fifty day moving average price is $77.49 and its 200 day moving average price is $62.44.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS 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 previous year, the company earned $1.63 EPS. As a group, sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.87%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Analysts Set New Price Targets

TPR has been the topic of a number of recent research reports. Morgan Stanley reiterated an “equal weight” rating and set a $65.00 price target on shares of Tapestry in a research note on Tuesday, January 21st. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. raised their price target on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Jefferies Financial Group upped their price objective on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Evercore ISI lifted their target price on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.53.

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.