Venturi Wealth Management LLC Raises Stake in Tapestry, Inc. (NYSE:TPR)

Venturi Wealth Management LLC grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 78.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 575 shares of the luxury accessories retailer’s stock after purchasing an additional 252 shares during the period. Venturi Wealth Management LLC’s holdings in Tapestry were worth $38,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc increased its holdings in Tapestry by 3.2% in the fourth quarter. CIBC Asset Management Inc now owns 33,374 shares of the luxury accessories retailer’s stock valued at $2,180,000 after buying an additional 1,049 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Tapestry by 1.5% in the fourth quarter. Sanctuary Advisors LLC now owns 41,464 shares of the luxury accessories retailer’s stock valued at $2,709,000 after buying an additional 625 shares in the last quarter. Principal Financial Group Inc. boosted its position in Tapestry by 14.6% during the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer’s stock worth $20,195,000 after purchasing an additional 39,298 shares in the last quarter. Capital Performance Advisors LLP boosted its position in Tapestry by 28.3% during the fourth quarter. Capital Performance Advisors LLP now owns 6,621 shares of the luxury accessories retailer’s stock worth $433,000 after purchasing an additional 1,461 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in Tapestry by 45.7% during the fourth quarter. Principal Securities Inc. now owns 1,633 shares of the luxury accessories retailer’s stock worth $107,000 after purchasing an additional 512 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Trading Down 0.3 %

Shares of TPR stock opened at $84.12 on Wednesday. The firm has a market cap of $17.41 billion, a P/E ratio of 24.38, a PEG ratio of 2.01 and a beta of 1.58. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $90.85. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The firm’s 50-day simple moving average is $73.44 and its 200-day simple moving average is $57.40.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating 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 firm posted $1.63 earnings per share. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company 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. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.66%. Tapestry’s dividend payout ratio (DPR) is 40.58%.

Insider Transactions at Tapestry

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction 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 $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the sale, the general counsel now owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. 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. 1.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on TPR shares. Morgan Stanley reiterated an “equal weight” rating and set a $65.00 target price on shares of Tapestry in a research report on Tuesday, January 21st. Telsey Advisory Group raised their target price on shares of Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. 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. BMO Capital Markets upped their target price on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. Finally, StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

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.