Howard Capital Management Inc. Takes $367,000 Position in Tapestry, Inc. (NYSE:TPR)

Howard Capital Management Inc. acquired a new position in Tapestry, Inc. (NYSE:TPR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,613 shares of the luxury accessories retailer’s stock, valued at approximately $367,000.

A number of other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of Tapestry by 7.5% during the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock valued at $20,381,000 after purchasing an additional 30,121 shares during the period. Apollon Wealth Management LLC purchased a new position in shares of Tapestry in the fourth quarter worth approximately $328,000. Assenagon Asset Management S.A. bought a new stake in Tapestry during the third quarter valued at approximately $5,446,000. Valley Wealth Managers Inc. increased its holdings in Tapestry by 2.1% during the third quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock valued at $19,971,000 after buying an additional 8,833 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in Tapestry in the fourth quarter worth approximately $3,437,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TPR. Robert W. Baird upped their price objective on Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Morgan Stanley restated an “equal weight” rating and issued a $65.00 price target on shares of Tapestry in a research report on Tuesday, January 21st. Wells Fargo & Company lifted their price objective on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. 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. Finally, Barclays lifted their price target on shares of Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $78.53.

Insider Transactions at Tapestry

In other news, CEO Todd Kahn sold 7,786 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $87.59, for a total transaction of $681,975.74. Following the transaction, the chief executive officer now owns 201,531 shares of the company’s stock, valued at approximately $17,652,100.29. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction on 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 owns 146,587 shares in the company, valued at $12,688,570.72. The trade was a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,430 shares of company stock worth $3,957,601 in the last three months. Insiders own 1.18% of the company’s stock.

Tapestry Price Performance

NYSE:TPR opened at $84.29 on Tuesday. The company has a market capitalization of $17.45 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.01 and a beta of 1.58. The business’s 50-day moving average is $73.04 and its 200 day moving average is $57.08. 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, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85.

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

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.66%. Tapestry’s payout ratio is currently 40.58%.

Tapestry Company 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.