Trust Investment Advisors Makes New $248,000 Investment in Tapestry, Inc. (NYSE:TPR)

Trust Investment Advisors bought a new stake in Tapestry, Inc. (NYSE:TPR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,797 shares of the luxury accessories retailer’s stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in Tapestry by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock valued at $522,471,000 after purchasing an additional 382,856 shares during the period. Geode Capital Management LLC raised its holdings in shares of Tapestry by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock valued at $262,156,000 after buying an additional 80,681 shares during the period. Allianz Asset Management GmbH lifted its position in Tapestry by 16.4% during the 4th quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer’s stock worth $138,596,000 after acquiring an additional 298,409 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Tapestry by 8.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,618 shares of the luxury accessories retailer’s stock worth $66,459,000 after acquiring an additional 115,340 shares during the period. Finally, Erste Asset Management GmbH acquired a new stake in Tapestry in the third quarter valued at approximately $64,016,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on TPR shares. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Robert W. Baird raised their target price on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Redburn Atlantic upgraded Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Tuesday, February 18th. Wells Fargo & Company raised their price objective on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Telsey Advisory Group upped their target price on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.53.

Insider Buying and Selling

In other Tapestry 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 directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Kahn sold 21,107 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total value of $1,772,988.00. Following the transaction, the chief executive officer now directly owns 176,985 shares of the company’s stock, valued at approximately $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 a total of 66,537 shares of company stock valued at $5,730,589 in the last quarter. Company insiders own 1.18% of the company’s stock.

Tapestry Price Performance

TPR opened at $74.70 on Wednesday. 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 moving average price is $77.49 and its 200 day moving average price is $62.44. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The firm has a market cap of $15.46 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (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 period in the prior year, the business posted $1.63 EPS. As a group, sell-side analysts expect 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 was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.87%. Tapestry’s dividend payout ratio is currently 40.58%.

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.