Oppenheimer & Co. Inc. Has $3.23 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Oppenheimer & Co. Inc. lifted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 43.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,497 shares of the luxury accessories retailer’s stock after acquiring an additional 15,088 shares during the period. Oppenheimer & Co. Inc.’s holdings in Tapestry were worth $3,234,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TPR. Venturi Wealth Management LLC increased its holdings in Tapestry by 78.0% during the 4th 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 in the last quarter. Brooklyn Investment Group acquired a new position in shares of Tapestry during the third quarter worth about $47,000. Deseret Mutual Benefit Administrators boosted its position in shares of 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 buying an additional 605 shares during the period. Transamerica Financial Advisors Inc. grew its holdings in shares of 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 buying an additional 1,591 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Tapestry by 72.9% in the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after buying an additional 496 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $65.00 price target on shares of Tapestry in a research note on Tuesday, January 21st. Daiwa America upgraded shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company lifted their target price on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 21,107 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total value of $1,772,988.00. Following the transaction, the chief executive officer now directly owns 176,985 shares in the company, valued at approximately $14,866,740. This represents a 10.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Scott A. Roe sold 25,727 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 66,537 shares of company stock worth $5,730,589. Company insiders own 1.18% of the company’s stock.

Tapestry Trading Up 1.3 %

Shares of Tapestry stock opened at $85.38 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The business has a fifty day simple moving average of $74.79 and a two-hundred day simple moving average of $58.26. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The company has a market capitalization of $17.67 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 earnings per share. Research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

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.