Smartleaf Asset Management LLC Purchases 722 Shares of Tapestry, Inc. (NYSE:TPR)

Smartleaf Asset Management LLC grew its holdings in Tapestry, Inc. (NYSE:TPR) by 30.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,113 shares of the luxury accessories retailer’s stock after purchasing an additional 722 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Tapestry were worth $205,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Checchi Capital Advisers LLC lifted its holdings in Tapestry by 1.9% in the fourth quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer’s stock valued at $580,000 after buying an additional 163 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Tapestry by 0.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock valued at $1,261,000 after acquiring an additional 170 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Tapestry by 13.0% in 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 during the period. Valley National Advisers Inc. boosted its position in shares of Tapestry by 0.5% in the 4th quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer’s stock worth $2,831,000 after purchasing an additional 202 shares during the last quarter. Finally, Redwood Investment Management LLC grew its stake in shares of Tapestry by 0.4% during the third quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock worth $2,269,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TPR shares. Guggenheim increased their target price on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their price objective on shares of Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. BMO Capital Markets lifted their price target on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 18th. Finally, Jefferies Financial Group boosted their price target on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and an average price target of $78.53.

Tapestry Trading Down 0.2 %

NYSE:TPR opened at $81.12 on Thursday. The company has a market cap of $16.79 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The business has a 50 day moving average price of $75.49 and a two-hundred day moving average price of $59.01. 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 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 quarter in the previous year, the business earned $1.63 earnings per share. As a group, analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

Insider Activity at Tapestry

In other news, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 146,587 shares of the company’s stock, valued at $12,688,570.72. This trade represents a 14.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Todd Kahn sold 21,107 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the transaction, the chief executive officer now owns 176,985 shares in the company, valued at $14,866,740. This represents a 10.66 % 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 valued at $5,730,589. 1.18% of the stock is owned by insiders.

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.