Todd Asset Management LLC Purchases 11,287 Shares of Tapestry, Inc. (NYSE:TPR)

Todd Asset Management LLC grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 707,043 shares of the luxury accessories retailer’s stock after purchasing an additional 11,287 shares during the period. Tapestry comprises about 1.1% of Todd Asset Management LLC’s investment portfolio, making the stock its 28th largest holding. Todd Asset Management LLC’s holdings in Tapestry were worth $46,191,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quartz Partners LLC boosted its stake in shares of Tapestry by 7.4% in the 4th quarter. Quartz Partners LLC now owns 11,895 shares of the luxury accessories retailer’s stock worth $777,000 after buying an additional 818 shares during the last quarter. Howard Capital Management Inc. purchased a new position in Tapestry in the fourth quarter valued at approximately $367,000. TCW Group Inc. lifted its stake in Tapestry by 18.6% in the fourth quarter. TCW Group Inc. now owns 657,213 shares of the luxury accessories retailer’s stock valued at $42,936,000 after purchasing an additional 103,109 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Tapestry by 21.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,598 shares of the luxury accessories retailer’s stock valued at $104,000 after purchasing an additional 287 shares during the last quarter. Finally, Cypress Capital LLC purchased a new position in Tapestry in the fourth quarter valued at approximately $1,050,000. 90.77% of the stock is owned by institutional investors.

Insider Activity at Tapestry

In other 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 value of $2,226,929.12. Following the sale, the chief financial officer now directly owns 146,587 shares in the company, valued at $12,688,570.72. The trade was a 14.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,430 shares of company stock worth $3,957,601. 1.18% of the stock is owned by corporate insiders.

Tapestry Trading Down 0.4 %

NYSE:TPR opened at $84.29 on Tuesday. The company has a 50 day simple moving average of $73.04 and a two-hundred day simple moving average of $57.08. The company has a market cap of $17.45 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58. 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.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the previous year, the firm posted $1.63 EPS. Research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is 40.58%.

Analyst Ratings Changes

Several research firms have issued reports on TPR. Telsey Advisory Group increased their target price on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a report on Tuesday. Redburn Atlantic raised Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective 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, TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $78.53.

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.