Parkside Financial Bank & Trust Purchases 182 Shares of Tapestry, Inc. (NYSE:TPR)

Parkside Financial Bank & Trust grew its position in Tapestry, Inc. (NYSE:TPR) by 13.0% during the fourth quarter, HoldingsChannel reports. The firm owned 1,586 shares of the luxury accessories retailer’s stock after buying an additional 182 shares during the period. Parkside Financial Bank & Trust’s holdings in Tapestry were worth $104,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its stake in shares of Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after purchasing an additional 252 shares during the last quarter. Brooklyn Investment Group bought a new position in Tapestry during the third quarter worth $47,000. Deseret Mutual Benefit Administrators boosted its stake in Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after acquiring an additional 605 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its stake in Tapestry by 159,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after acquiring an additional 1,591 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after acquiring an additional 496 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Morgan Stanley reissued an “equal weight” rating and set a $65.00 target price on shares of Tapestry in a research note on Tuesday, January 21st. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Tuesday, February 18th. JPMorgan Chase & Co. increased their target price on shares of Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Evercore ISI increased their target price on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tapestry has an average rating of “Moderate Buy” and an average price target of $78.53.

Tapestry Stock Performance

Shares of TPR stock opened at $85.38 on Monday. The firm has a 50-day moving average of $74.79 and a 200-day moving average of $58.41. The company has a market cap of $17.67 billion, a P/E ratio of 24.75, a P/E/G ratio of 2.01 and a beta of 1.58. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating 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 period in the prior year, the company earned $1.63 earnings per share. Equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.64%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Insider Buying and Selling

In related news, CFO Scott A. Roe sold 25,727 shares of the firm’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 completion of the sale, the chief financial officer now owns 146,587 shares in the company, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Todd Kahn sold 21,107 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the sale, the chief executive officer now owns 176,985 shares of the company’s stock, valued at $14,866,740. This trade represents a 10.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,537 shares of company stock worth $5,730,589. Insiders own 1.18% of the company’s stock.

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.