Tapestry, Inc. (NYSE:TPR) Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 28.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,171 shares of the luxury accessories retailer’s stock after buying an additional 2,483 shares during the period. NEOS Investment Management LLC’s holdings in Tapestry were worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its holdings 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 valued at $38,000 after acquiring an additional 252 shares in the last quarter. UMB Bank n.a. grew its position 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 purchasing an additional 496 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Tapestry by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock valued at $104,000 after purchasing an additional 182 shares in the last quarter. First Horizon Advisors Inc. raised 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 last quarter. Finally, Principal Securities Inc. lifted its stake in shares of Tapestry by 45.7% during the fourth quarter. Principal Securities Inc. now owns 1,633 shares of the luxury accessories retailer’s stock worth $107,000 after buying an additional 512 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Stock Down 3.4 %

Shares of TPR opened at $70.25 on Monday. The firm has a market cap of $14.54 billion, a P/E ratio of 20.36, a PEG ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The stock’s 50 day moving average is $77.65 and its two-hundred day moving average is $63.09. 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 EPS 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 period last year, the firm posted $1.63 earnings per share. Analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry’s dividend payout ratio is presently 40.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TPR shares. Redburn Atlantic upgraded Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Tuesday, February 18th. Morgan Stanley reiterated an “equal weight” rating and issued a $65.00 target price on shares of Tapestry in a research report on Tuesday, January 21st. Raymond James reissued an “outperform” rating and set a $88.00 price target (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. UBS Group upped their price objective on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Guggenheim increased their price objective on shares of Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. 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 has an average rating of “Moderate Buy” and a consensus target price of $78.53.

Insider Buying and Selling

In other news, 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 transaction, the general counsel now directly owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 sale, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. This represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,537 shares of company stock worth $5,730,589. 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.