Delphi Management Inc. MA Has $1.67 Million Position in Tapestry, Inc. (NYSE:TPR)

Delphi Management Inc. MA decreased its position in shares of Tapestry, Inc. (NYSE:TPR) by 17.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 25,586 shares of the luxury accessories retailer’s stock after selling 5,243 shares during the quarter. Tapestry makes up 1.6% of Delphi Management Inc. MA’s investment portfolio, making the stock its 6th largest position. Delphi Management Inc. MA’s holdings in Tapestry were worth $1,672,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TPR. GSA Capital Partners LLP bought a new position in Tapestry in the 3rd quarter worth about $237,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Tapestry by 42.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,779 shares of the luxury accessories retailer’s stock worth $365,000 after purchasing an additional 2,326 shares during the period. Victory Capital Management Inc. boosted its stake in Tapestry by 7.5% in the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock worth $20,381,000 after purchasing an additional 30,121 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Tapestry by 2.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 34,409 shares of the luxury accessories retailer’s stock worth $1,617,000 after purchasing an additional 932 shares during the period. Finally, KBC Group NV boosted its stake in Tapestry by 14.5% in the 3rd quarter. KBC Group NV now owns 6,199 shares of the luxury accessories retailer’s stock worth $291,000 after purchasing an additional 785 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on TPR shares. Raymond James reaffirmed an “outperform” rating and issued a $88.00 price target (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th. Evercore ISI raised their price target on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Barclays raised their price target on Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 7th. BMO Capital Markets raised their price target on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, November 18th. Finally, Wells Fargo & Company raised their price target on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.53.

Insider Activity at Tapestry

In related news, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction that occurred on 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 $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction that occurred 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 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 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 ninety days. 1.18% of the stock is owned by corporate insiders.

Tapestry Price Performance

Shares of TPR stock opened at $71.15 on Tuesday. The firm has a market cap of $14.73 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The business’s 50 day moving average price is $76.80 and its 200-day moving average price is $61.07. 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 (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, beating 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 firm earned $1.63 EPS. On average, equities research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.97%. Tapestry’s dividend payout ratio is presently 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.