GoalVest Advisory LLC Raises Stock Holdings in Tapestry, Inc. (NYSE:TPR)

GoalVest Advisory LLC lifted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 1,042.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,011 shares of the luxury accessories retailer’s stock after purchasing an additional 1,835 shares during the quarter. GoalVest Advisory LLC’s holdings in Tapestry were worth $95,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPR. Envestnet Portfolio Solutions Inc. acquired a new position in Tapestry during the third quarter worth $358,000. Envestnet Asset Management Inc. boosted its stake in shares of Tapestry by 68.0% during the third quarter. Envestnet Asset Management Inc. now owns 346,437 shares of the luxury accessories retailer’s stock valued at $9,960,000 after acquiring an additional 140,182 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Tapestry during the third quarter valued at $306,000. Northern Trust Corp lifted its position in Tapestry by 5.0% during the third quarter. Northern Trust Corp now owns 3,188,088 shares of the luxury accessories retailer’s stock worth $91,658,000 after buying an additional 152,508 shares during the period. Finally, Algert Global LLC lifted its position in Tapestry by 12.0% during the third quarter. Algert Global LLC now owns 22,740 shares of the luxury accessories retailer’s stock worth $654,000 after buying an additional 2,430 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of TPR opened at $41.61 on Friday. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.91 and a beta of 1.60. Tapestry, Inc. has a 52 week low of $25.99 and a 52 week high of $48.80. The company has a current ratio of 6.59, a quick ratio of 5.98 and a debt-to-equity ratio of 2.77. The stock has a 50 day moving average of $41.50 and a 200-day moving average of $41.68.

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

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders 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 dividend on an annualized basis and a yield of 3.36%. Tapestry’s dividend payout ratio (DPR) is presently 37.04%.

Analyst Ratings Changes

Several equities analysts recently weighed in on TPR shares. Telsey Advisory Group reiterated an “outperform” rating and set a $54.00 target price on shares of Tapestry in a research report on Thursday, May 9th. Argus reiterated a “buy” rating and set a $52.00 target price on shares of Tapestry in a research report on Tuesday, June 18th. Jefferies Financial Group downgraded Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Thursday, February 29th. Robert W. Baird reduced their target price on Tapestry from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Finally, Bernstein Bank raised their price objective on Tapestry from $46.00 to $48.00 in a report on Thursday, May 9th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.53.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 2,500 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $42.23, for a total transaction of $105,575.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.93% of the stock is currently owned by insiders.

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.