Atlas Capital Advisors Inc. Buys 1,065 Shares of Tapestry, Inc. (NYSE:TPR)

Atlas Capital Advisors Inc. lifted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 527.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,267 shares of the luxury accessories retailer’s stock after acquiring an additional 1,065 shares during the quarter. Atlas Capital Advisors Inc.’s holdings in Tapestry were worth $83,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cinctive Capital Management LP increased its position in Tapestry by 174.7% during the 4th quarter. Cinctive Capital Management LP now owns 362,807 shares of the luxury accessories retailer’s stock valued at $23,702,000 after purchasing an additional 230,731 shares during the period. Groupama Asset Managment increased its position in shares of Tapestry by 129.8% during the fourth quarter. Groupama Asset Managment now owns 12,372 shares of the luxury accessories retailer’s stock worth $814,000 after buying an additional 6,988 shares during the period. Trexquant Investment LP raised its stake in Tapestry by 155.5% during the fourth quarter. Trexquant Investment LP now owns 105,740 shares of the luxury accessories retailer’s stock worth $6,908,000 after buying an additional 64,359 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Tapestry by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer’s stock valued at $376,247,000 after buying an additional 176,717 shares during the period. Finally, HighPoint Advisor Group LLC boosted its position in Tapestry by 12.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,691 shares of the luxury accessories retailer’s stock valued at $372,000 after acquiring an additional 646 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TPR has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Telsey Advisory Group lifted their target price on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. The Goldman Sachs Group increased their price target on Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Evercore ISI lifted their price objective on shares of Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Finally, 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. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

Insider Activity

In related news, General Counsel David E. Howard sold 11,917 shares of the company’s stock in a transaction that occurred on 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 transaction, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott A. Roe sold 25,727 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock valued at $5,730,589 in the last three months. Company insiders own 1.18% of the company’s stock.

Tapestry Stock Performance

TPR stock opened at $62.78 on Friday. 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 firm has a market cap of $13.00 billion, a PE ratio of 18.20, a P/E/G ratio of 2.01 and a beta of 1.57. The business has a 50 day moving average of $77.22 and a 200-day moving average of $63.87. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85.

Tapestry (NYSE:TPR) last announced 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 quarter last year, the firm posted $1.63 earnings per share. As a group, sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Thursday, March 6th. Tapestry’s payout ratio is 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.