Abacus FCF Advisors LLC Purchases 14,384 Shares of Tapestry, Inc. (NYSE:TPR)

Abacus FCF Advisors LLC grew its holdings in Tapestry, Inc. (NYSE:TPR) by 46.2% during the 4th quarter, HoldingsChannel reports. The firm owned 45,487 shares of the luxury accessories retailer’s stock after acquiring an additional 14,384 shares during the quarter. Abacus FCF Advisors LLC’s holdings in Tapestry were worth $2,972,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Captrust Financial Advisors increased its position in Tapestry by 97.9% in the 3rd quarter. Captrust Financial Advisors now owns 22,505 shares of the luxury accessories retailer’s stock worth $1,057,000 after buying an additional 11,131 shares during the period. HighTower Advisors LLC grew its stake in shares of Tapestry by 0.9% in the third quarter. HighTower Advisors LLC now owns 50,797 shares of the luxury accessories retailer’s stock worth $2,386,000 after acquiring an additional 445 shares during the last quarter. Janus Henderson Group PLC raised its stake in Tapestry by 5.2% during the 3rd quarter. Janus Henderson Group PLC now owns 113,103 shares of the luxury accessories retailer’s stock valued at $5,314,000 after purchasing an additional 5,570 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Tapestry by 17.2% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 19,695 shares of the luxury accessories retailer’s stock worth $925,000 after purchasing an additional 2,885 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of Tapestry by 1.0% during the third quarter. Quantinno Capital Management LP now owns 66,271 shares of the luxury accessories retailer’s stock valued at $3,113,000 after buying an additional 633 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Redburn Atlantic upgraded Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Tuesday, February 18th. Guggenheim increased their price objective on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Telsey Advisory Group lifted their target price on shares of Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Morgan Stanley reissued an “equal weight” rating and issued a $65.00 target price on shares of Tapestry in a research note on Tuesday, January 21st. Finally, Evercore ISI raised their price target on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.53.

Tapestry Stock Down 0.3 %

Shares of TPR stock opened at $62.74 on Tuesday. The firm has a fifty day moving average of $77.03 and a 200-day moving average of $64.16. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The company has a market capitalization of $12.99 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 2.01 and a beta of 1.37. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share 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 company posted $1.63 earnings per share. As a group, equities research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders 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 annualized dividend and a yield of 2.23%. Tapestry’s payout ratio is currently 40.58%.

Insiders Place Their Bets

In other news, CEO Todd Kahn sold 21,107 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the completion of the sale, the chief executive officer now owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. This represents a 10.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the company’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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock valued at $5,730,589 in the last three months. 1.18% of the stock is currently owned by corporate insiders.

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.