Bessemer Group Inc. Buys 1,480 Shares of Tapestry, Inc. (NYSE:TPR)

Bessemer Group Inc. lifted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 4.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 31,900 shares of the luxury accessories retailer’s stock after acquiring an additional 1,480 shares during the period. Bessemer Group Inc.’s holdings in Tapestry were worth $2,085,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Tapestry by 20.0% in the third quarter. Wellington Management Group LLP now owns 179,900 shares of the luxury accessories retailer’s stock worth $8,452,000 after acquiring an additional 29,987 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Tapestry by 18.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 4,275 shares of the luxury accessories retailer’s stock worth $201,000 after purchasing an additional 679 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Tapestry by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock worth $262,156,000 after purchasing an additional 80,681 shares in the last quarter. Coldstream Capital Management Inc. grew its position in Tapestry by 12.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 8,573 shares of the luxury accessories retailer’s stock valued at $406,000 after purchasing an additional 970 shares during the period. Finally, Sanctuary Advisors LLC increased its stake in Tapestry by 59.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 40,839 shares of the luxury accessories retailer’s stock valued at $1,919,000 after purchasing an additional 15,242 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 0.8 %

NYSE:TPR opened at $63.40 on Monday. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. 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 firm’s 50 day moving average is $75.82 and its 200 day moving average is $64.82. The stock has a market capitalization of $13.13 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37.

Tapestry (NYSE:TPR) last issued 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 EPS. Sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.21%. Tapestry’s dividend payout ratio is presently 40.58%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Evercore ISI raised 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. Barclays dropped their price target on shares of Tapestry from $100.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. Finally, Raymond James reiterated an “outperform” rating and set a $88.00 price target (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.63.

Insider Transactions at Tapestry

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $87.59, for a total transaction of $681,975.74. Following the completion of the transaction, the chief executive officer now owns 201,531 shares of the company’s stock, valued at $17,652,100.29. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel David E. Howard sold 11,917 shares of the company’s stock in a transaction dated 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 approximately $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 sold 66,537 shares of company stock worth $5,730,589 over the last quarter. Corporate insiders own 1.18% of the company’s stock.

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.