Tapestry, Inc. (NYSE:TPR) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp lifted its position in shares of Tapestry, Inc. (NYSE:TPR) by 46.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,222 shares of the luxury accessories retailer’s stock after buying an additional 8,360 shares during the quarter. Cibc World Markets Corp’s holdings in Tapestry were worth $1,713,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC raised its position in Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after acquiring an additional 252 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Tapestry during the 3rd quarter worth approximately $47,000. Transamerica Financial Advisors Inc. lifted its stake in Tapestry by 159,100.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after buying an additional 1,591 shares in the last quarter. UMB Bank n.a. grew its holdings in Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after buying an additional 496 shares during the last quarter. Finally, True Wealth Design LLC purchased a new position in Tapestry during the third quarter worth $83,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TPR has been the topic of several recent research reports. Jefferies Financial Group increased their price objective on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. boosted their price objective 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. The Goldman Sachs Group raised their target price on shares of Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Robert W. Baird boosted their price target on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and a consensus target price of $78.53.

Tapestry Stock Performance

Shares of TPR stock opened at $72.99 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The company has a market cap of $15.11 billion, a PE ratio of 21.16, a P/E/G ratio of 2.01 and a beta of 1.57. The company’s fifty day simple moving average is $77.17 and its 200-day simple moving average is $61.67. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS 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 previous year, the firm earned $1.63 EPS. As a group, equities research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, March 6th. Tapestry’s dividend payout ratio is presently 40.58%.

Insider Buying and Selling 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 stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the transaction, the chief financial officer now owns 146,587 shares in the company, 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 legal filing with the SEC, which can be accessed through this link. Also, CEO Todd Kahn sold 7,786 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the sale, the chief executive officer now owns 201,531 shares of the company’s stock, valued at approximately $17,652,100.29. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock valued at $5,730,589 over the last 90 days. 1.18% of the stock is owned by corporate insiders.

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.