Smartleaf Asset Management LLC Buys 722 Shares of Tapestry, Inc. (NYSE:TPR)

Smartleaf Asset Management LLC raised its stake in Tapestry, Inc. (NYSE:TPR) by 30.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,113 shares of the luxury accessories retailer’s stock after purchasing an additional 722 shares during the period. Smartleaf Asset Management LLC’s holdings in Tapestry were worth $205,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Metis Global Partners LLC grew its stake in Tapestry by 91.3% in the 4th quarter. Metis Global Partners LLC now owns 8,380 shares of the luxury accessories retailer’s stock valued at $547,000 after buying an additional 3,999 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Tapestry by 18.1% during the fourth quarter. US Bancorp DE now owns 17,440 shares of the luxury accessories retailer’s stock worth $1,139,000 after acquiring an additional 2,676 shares during the period. SVB Wealth LLC acquired a new position in shares of Tapestry in the fourth quarter valued at approximately $303,000. Parkside Financial Bank & Trust increased its stake in shares of Tapestry by 13.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock worth $104,000 after purchasing an additional 182 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in Tapestry by 3.5% during the 4th quarter. QRG Capital Management Inc. now owns 12,747 shares of the luxury accessories retailer’s stock worth $833,000 after purchasing an additional 430 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Guggenheim increased their price objective on Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Redburn Atlantic raised 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. Daiwa America raised shares of Tapestry to a “hold” rating in a report on Monday, November 18th. BMO Capital Markets raised their target price on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, November 18th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $65.00 price target on shares of Tapestry in a research report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

Insider Activity at Tapestry

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Kahn sold 7,786 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock valued at $5,730,589 in the last 90 days. 1.18% of the stock is owned by corporate insiders.

Tapestry Stock Performance

Tapestry stock opened at $81.12 on Thursday. 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 market cap of $16.79 billion, a PE ratio of 23.51, a P/E/G ratio of 2.01 and a beta of 1.58. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The business’s 50-day moving average price is $75.49 and its two-hundred day moving average price is $59.01.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating 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 last year, the firm posted $1.63 EPS. As a group, analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

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.