Tapestry, Inc. (NYSE:TPR) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC lifted its position in shares of Tapestry, Inc. (NYSE:TPR) by 91.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,380 shares of the luxury accessories retailer’s stock after buying an additional 3,999 shares during the period. Metis Global Partners LLC’s holdings in Tapestry were worth $547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp increased its holdings in Tapestry by 7.2% in the 3rd quarter. Van ECK Associates Corp now owns 111,184 shares of the luxury accessories retailer’s stock valued at $4,841,000 after purchasing an additional 7,493 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Tapestry by 22.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 4,558 shares of the luxury accessories retailer’s stock valued at $214,000 after buying an additional 832 shares during the period. Radnor Capital Management LLC purchased a new position in Tapestry in the 3rd quarter valued at approximately $894,000. Foster & Motley Inc. lifted its position in shares of Tapestry by 111.4% during the 3rd quarter. Foster & Motley Inc. now owns 30,159 shares of the luxury accessories retailer’s stock worth $1,417,000 after purchasing an additional 15,895 shares during the last quarter. Finally, Umpqua Bank purchased a new stake in shares of Tapestry during the 3rd quarter worth $208,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on TPR. Guggenheim lifted their price objective on shares of Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Wells Fargo & Company boosted their price target on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $88.00 price target (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Finally, Jefferies Financial Group boosted their price target on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.53.

Insider Transactions at Tapestry

In related news, CFO Scott A. Roe sold 25,727 shares of the business’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 sale, the chief financial officer now owns 146,587 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available at 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 transaction of $681,975.74. Following the sale, the chief executive officer now directly owns 201,531 shares in the company, valued at approximately $17,652,100.29. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock worth $5,730,589 over the last ninety days. 1.18% of the stock is currently owned by company insiders.

Tapestry Trading Down 0.2 %

Shares of Tapestry stock opened at $81.12 on Thursday. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week 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 company’s 50-day simple moving average is $75.49 and its 200-day simple moving average is $59.01. The firm has a market cap of $16.79 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last issued 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 business earned $1.63 EPS. As a group, equities research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current 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 dividend of $0.35 per share. 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 1.73%. Tapestry’s dividend payout ratio (DPR) is 40.58%.

Tapestry 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.