NEOS Investment Management LLC Increases Stock Holdings in Tapestry, Inc. (NYSE:TPR)

NEOS Investment Management LLC boosted its position in shares of Tapestry, Inc. (NYSE:TPR) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,171 shares of the luxury accessories retailer’s stock after purchasing an additional 2,483 shares during the period. NEOS Investment Management LLC’s holdings in Tapestry were worth $730,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its position in shares of Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after buying an additional 252 shares during the period. UMB Bank n.a. raised its position in Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after purchasing an additional 496 shares during the period. True Wealth Design LLC acquired a new position in shares of Tapestry in the 3rd quarter valued at $83,000. First Horizon Advisors Inc. grew its holdings in shares of Tapestry by 21.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,598 shares of the luxury accessories retailer’s stock worth $104,000 after purchasing an additional 287 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in shares of Tapestry by 13.0% during the 4th 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 last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on TPR. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Tuesday, February 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 price objective on shares of Tapestry in a research report on Tuesday, January 21st. Raymond James reissued an “outperform” rating and issued a $88.00 target price (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Guggenheim raised their price target on Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $78.53.

Insider Activity at Tapestry

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total value of $2,226,929.12. Following the transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now directly owns 38,609 shares of the company’s stock, valued at $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock valued at $5,730,589 over the last ninety days. Insiders own 1.18% of the company’s stock.

Tapestry Price Performance

Shares of TPR opened at $70.25 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The firm’s fifty day simple moving average is $77.65 and its 200-day simple moving average is $63.09. The firm has a market capitalization of $14.54 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85.

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, 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 business posted $1.63 earnings per share. Equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.99%. Tapestry’s dividend payout ratio is currently 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.