Tapestry, Inc. (NYSE:TPR) Position Increased by Trexquant Investment LP

Trexquant Investment LP raised its stake in Tapestry, Inc. (NYSE:TPR) by 155.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 105,740 shares of the luxury accessories retailer’s stock after acquiring an additional 64,359 shares during the period. Trexquant Investment LP’s holdings in Tapestry were worth $6,908,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TPR. Venturi Wealth Management LLC raised its position in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after purchasing an additional 252 shares during the period. UMB Bank n.a. raised its holdings in Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after buying an additional 496 shares during the period. Brown Brothers Harriman & Co. lifted its stake in Tapestry by 1,792.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer’s stock valued at $78,000 after buying an additional 1,129 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Tapestry by 21.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,598 shares of the luxury accessories retailer’s stock worth $104,000 after buying an additional 287 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in shares of Tapestry by 13.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock worth $104,000 after acquiring an additional 182 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the company’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 directly owns 146,587 shares in the company, valued at $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the firm’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 completion of the sale, the general counsel now directly 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. In the last three months, insiders sold 66,537 shares of company stock valued at $5,730,589. Company insiders own 1.18% of the company’s stock.

Tapestry Price Performance

NYSE TPR opened at $65.11 on Friday. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The stock’s 50-day moving average is $77.46 and its two-hundred day moving average is $63.60. The firm has a market cap of $13.48 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. 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 (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior year, the business posted $1.63 EPS. On average, analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

Analysts Set New Price Targets

Several equities research analysts recently commented on TPR shares. Redburn Atlantic upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Tuesday, February 18th. Wells Fargo & Company increased their target price on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. The Goldman Sachs Group lifted their price target on Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 7th. UBS Group raised their price objective on Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. upped their target price on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus 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.