Pitcairn Co. Has $367,000 Holdings in Tapestry, Inc. (NYSE:TPR)

Pitcairn Co. lessened its position in Tapestry, Inc. (NYSE:TPR) by 3.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,612 shares of the luxury accessories retailer’s stock after selling 183 shares during the quarter. Pitcairn Co.’s holdings in Tapestry were worth $367,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Tapestry in the fourth quarter valued at $114,199,000. WT Asset Management Ltd acquired a new position in Tapestry during the fourth quarter valued at $42,762,000. Raymond James Financial Inc. purchased a new stake in Tapestry in the 4th quarter worth about $38,180,000. Alliancebernstein L.P. boosted its position in Tapestry by 15.2% during the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer’s stock worth $270,304,000 after acquiring an additional 546,497 shares during the period. Finally, Pictet Asset Management Holding SA grew its stake in Tapestry by 767.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 464,478 shares of the luxury accessories retailer’s stock valued at $30,344,000 after acquiring an additional 410,918 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Down 3.6 %

Shares of Tapestry stock opened at $62.78 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 50 day moving average price of $77.22 and a two-hundred day moving average price of $63.87. The stock has a market capitalization of $13.00 billion, a P/E ratio of 18.20, a PEG ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $1.63 earnings per share. Equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were paid a $0.35 dividend. 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 2.23%. Tapestry’s payout ratio is presently 40.58%.

Analyst Ratings Changes

TPR has been the subject of a number of research analyst reports. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Monday, March 31st. Barclays increased their target price on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Guggenheim boosted their price target on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. Raymond James reaffirmed an “outperform” rating and issued a $88.00 price target (up from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

Insider Buying and Selling

In other news, CEO Todd Kahn sold 7,786 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 201,531 shares in the company, valued at approximately $17,652,100.29. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. This trade represents a 23.59 % 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. Insiders own 1.18% of the company’s stock.

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.