18,182 Shares in Tapestry, Inc. (NYSE:TPR) Bought by Global Assets Advisory LLC

Global Assets Advisory LLC bought a new position in shares of Tapestry, Inc. (NYSE:TPR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,182 shares of the luxury accessories retailer’s stock, valued at approximately $863,000.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in Tapestry by 3,778.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock valued at $46,000 after acquiring an additional 1,209 shares during the last quarter. AllSquare Wealth Management LLC lifted its stake in Tapestry by 35.1% in the third quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock valued at $47,000 after acquiring an additional 423 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Tapestry by 56.9% in the third quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock valued at $53,000 after acquiring an additional 668 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Tapestry by 334.7% in the fourth quarter. First Horizon Advisors Inc. now owns 1,504 shares of the luxury accessories retailer’s stock valued at $55,000 after acquiring an additional 1,158 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Tapestry by 130.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,500 shares of the luxury accessories retailer’s stock valued at $55,000 after acquiring an additional 848 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

TPR has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on shares of Tapestry from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Thursday, February 29th. JPMorgan Chase & Co. lowered their price target on shares of Tapestry from $56.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Bernstein Bank raised their target price on shares of Tapestry from $46.00 to $48.00 in a report on Thursday, May 9th. Finally, Argus reissued a “buy” rating and issued a $52.00 target price on shares of Tapestry in a report on Tuesday, June 18th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.53.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $42.23, for a total value of $105,575.00. Following the transaction, the vice president now owns 37,173 shares in the company, valued at approximately $1,569,815.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.93% of the company’s stock.

Tapestry Stock Down 0.4 %

NYSE:TPR opened at $41.69 on Thursday. The firm’s 50 day simple moving average is $41.47 and its 200 day simple moving average is $41.68. The company has a debt-to-equity ratio of 2.77, a current ratio of 6.59 and a quick ratio of 5.98. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The company has a market cap of $9.58 billion, a PE ratio of 11.03, a P/E/G ratio of 0.91 and a beta of 1.60.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.67 by $0.14. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company earned $0.78 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, research analysts anticipate that Tapestry, Inc. will post 4.22 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were given a dividend of $0.35 per share. The ex-dividend date was Friday, June 7th. This represents a $1.40 annualized dividend and a yield of 3.36%. Tapestry’s dividend payout ratio is presently 37.04%.

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.