Tapestry, Inc. (NYSE:TPR) Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 37.1% during the 4th quarter, HoldingsChannel reports. The firm owned 131,844 shares of the luxury accessories retailer’s stock after purchasing an additional 35,651 shares during the quarter. Jones Financial Companies Lllp’s holdings in Tapestry were worth $8,613,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in Tapestry by 30.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,113 shares of the luxury accessories retailer’s stock worth $205,000 after purchasing an additional 722 shares during the last quarter. Metis Global Partners LLC raised its position in shares of Tapestry by 91.3% during the 4th quarter. Metis Global Partners LLC now owns 8,380 shares of the luxury accessories retailer’s stock valued at $547,000 after buying an additional 3,999 shares during the period. US Bancorp DE raised its position in shares of Tapestry by 18.1% during the 4th quarter. US Bancorp DE now owns 17,440 shares of the luxury accessories retailer’s stock valued at $1,139,000 after buying an additional 2,676 shares during the period. SVB Wealth LLC acquired a new position in Tapestry in the fourth quarter valued at approximately $303,000. Finally, Parkside Financial Bank & Trust increased its stake in Tapestry by 13.0% during 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 during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tapestry

In other news, CEO Todd Kahn sold 7,786 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the sale, the chief executive officer now directly owns 201,531 shares in the company, valued at approximately $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott A. Roe sold 25,727 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the transaction, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at $12,688,570.72. This represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock valued at $5,730,589 over the last three months. 1.18% of the stock is owned by corporate insiders.

Tapestry Trading Down 1.6 %

Tapestry stock opened at $84.04 on Tuesday. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The firm has a market capitalization of $17.40 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.01 and a beta of 1.58. The firm has a 50-day moving average price of $75.17 and a two-hundred day moving average price of $58.72. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating the consensus estimate 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 last year, the business earned $1.63 earnings per share. Sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders 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 dividend yield of 1.67%. Tapestry’s dividend payout ratio is 40.58%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TPR shares. StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. UBS Group boosted their price target on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Daiwa America raised Tapestry to a “hold” rating in a research note on Monday, November 18th. Jefferies Financial Group raised their price target on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Evercore ISI raised their target price on shares of Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

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.