HighPoint Advisor Group LLC Has $372,000 Stock Holdings in Tapestry, Inc. (NYSE:TPR)

HighPoint Advisor Group LLC increased its stake in Tapestry, Inc. (NYSE:TPR) by 12.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,691 shares of the luxury accessories retailer’s stock after buying an additional 646 shares during the period. HighPoint Advisor Group LLC’s holdings in Tapestry were worth $372,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Tapestry by 0.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 182,432 shares of the luxury accessories retailer’s stock valued at $8,571,000 after purchasing an additional 711 shares during the last quarter. Townsquare Capital LLC boosted its position in Tapestry by 15.8% during the third quarter. Townsquare Capital LLC now owns 11,162 shares of the luxury accessories retailer’s stock valued at $524,000 after acquiring an additional 1,526 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Tapestry by 3.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 40,119 shares of the luxury accessories retailer’s stock worth $1,885,000 after acquiring an additional 1,200 shares during the period. Captrust Financial Advisors raised its position in shares of 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 acquiring an additional 11,131 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in shares of Tapestry in the 3rd quarter valued at about $5,953,000. 90.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $86.56, for a total value of $2,226,929.12. Following the sale, the chief financial officer now owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd Kahn sold 21,107 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total transaction 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 $14,866,740. This represents a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by insiders.

Tapestry Trading Up 2.6 %

Shares of TPR stock opened at $74.80 on Thursday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The company has a market capitalization of $15.48 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The company has a 50-day simple moving average of $77.63 and a two-hundred day simple moving average of $63.59.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) 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 period last year, the firm earned $1.63 earnings per share. Research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

Wall Street Analyst Weigh In

Several research firms recently commented on TPR. Wells Fargo & Company raised their target price on Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group raised their price objective on shares of Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Guggenheim boosted their target price on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Morgan Stanley restated an “equal weight” rating and issued a $65.00 price target on shares of Tapestry in a report on Tuesday, January 21st. Finally, Robert W. Baird upped their price objective on shares of Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.53.

About Tapestry

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.