Howard Capital Management Inc. Purchases New Position in Tapestry, Inc. (NYSE:TPR)

Howard Capital Management Inc. acquired a new position in Tapestry, Inc. (NYSE:TPR) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 5,613 shares of the luxury accessories retailer’s stock, valued at approximately $367,000.

Several other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of Tapestry by 107.0% during the third quarter. Blue Trust Inc. now owns 2,180 shares of the luxury accessories retailer’s stock valued at $93,000 after buying an additional 1,127 shares during the period. Private Advisor Group LLC grew its holdings in Tapestry by 18.7% during the 3rd quarter. Private Advisor Group LLC now owns 11,593 shares of the luxury accessories retailer’s stock worth $545,000 after acquiring an additional 1,828 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Tapestry during the 3rd quarter valued at about $5,446,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Tapestry by 15.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 159,703 shares of the luxury accessories retailer’s stock valued at $7,656,000 after purchasing an additional 21,868 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of Tapestry in the 3rd quarter worth approximately $217,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TPR has been the topic of several research reports. BMO Capital Markets lifted their price objective on shares of Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, November 18th. TD Cowen lowered Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research report on Tuesday, October 29th. Barclays upped their price objective on Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased 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. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $78.53.

Tapestry Price Performance

NYSE TPR opened at $84.29 on Tuesday. 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 stock’s fifty day moving average price is $73.04 and its 200 day moving average price is $57.08. The company has a market cap of $17.45 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 2.01 and a beta of 1.58. 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 earnings per share. As a group, equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.66%. Tapestry’s payout ratio is 40.58%.

Insider Activity at Tapestry

In related news, CFO Scott A. Roe sold 25,727 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the completion of the sale, 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 is accessible through this link. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares in the company, valued at $3,397,592. This represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,430 shares of company stock worth $3,957,601 in the last three months. Company 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.