Steward Partners Investment Advisory LLC Increases Stake in Tapestry, Inc. (NYSE:TPR)

Steward Partners Investment Advisory LLC increased its stake in Tapestry, Inc. (NYSE:TPR) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,957 shares of the luxury accessories retailer’s stock after purchasing an additional 1,028 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Tapestry were worth $6,726,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of TPR. Van ECK Associates Corp grew its holdings in shares of Tapestry by 7.2% during the third quarter. Van ECK Associates Corp now owns 111,184 shares of the luxury accessories retailer’s stock valued at $4,841,000 after buying an additional 7,493 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Tapestry by 22.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 4,558 shares of the luxury accessories retailer’s stock worth $214,000 after acquiring an additional 832 shares during the period. Radnor Capital Management LLC purchased a new stake in Tapestry during the 3rd quarter valued at about $894,000. Foster & Motley Inc. increased its holdings in shares of Tapestry by 111.4% in the third quarter. Foster & Motley Inc. now owns 30,159 shares of the luxury accessories retailer’s stock valued at $1,417,000 after purchasing an additional 15,895 shares during the period. Finally, Umpqua Bank acquired a new position in Tapestry in the 3rd quarter worth approximately $208,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Tapestry stock opened at $81.12 on Thursday. The company’s 50 day simple moving average is $75.49 and its 200-day simple moving average is $59.01. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The company has a market capitalization 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 released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping the consensus estimate 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 last year, the company earned $1.63 earnings per share. As a group, equities research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have weighed in on TPR. Daiwa America upgraded Tapestry to a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company upped their price objective on Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Robert W. Baird raised their price objective on shares of Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group boosted their target price on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, StockNews.com cut Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $78.53.

Insiders Place Their Bets

In other news, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the transaction, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd Kahn sold 21,107 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the sale, the chief executive officer now owns 176,985 shares in the company, valued at $14,866,740. The trade was a 10.66 % 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 worth $5,730,589 over 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.