US Bancorp DE Increases Position in Tapestry, Inc. (NYSE:TPR)

US Bancorp DE lifted its position in Tapestry, Inc. (NYSE:TPR) by 18.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,440 shares of the luxury accessories retailer’s stock after acquiring an additional 2,676 shares during the period. US Bancorp DE’s holdings in Tapestry were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its holdings in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after purchasing an additional 252 shares during the period. Brooklyn Investment Group purchased a new position in Tapestry during the 3rd quarter worth approximately $47,000. UMB Bank n.a. lifted its stake in Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after acquiring an additional 496 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Tapestry by 13.0% in 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 period. Finally, Transamerica Financial Advisors Inc. increased its stake in shares of Tapestry by 159,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after acquiring an additional 1,591 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Activity

In other Tapestry news, CEO Todd Kahn sold 21,107 shares of Tapestry stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the sale, the chief executive officer now owns 176,985 shares in the company, valued at $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the transaction, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock worth $5,730,589 over the last three months. Insiders own 1.18% of the company’s stock.

Tapestry Trading Down 3.5 %

Shares of Tapestry stock opened at $75.00 on Monday. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The firm’s 50-day moving average price is $76.22 and its 200 day moving average price is $59.80. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $15.53 billion, a PE ratio of 21.74, a P/E/G ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR) last released its earnings results 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 in the prior year, the firm earned $1.63 EPS. On average, sell-side analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of research reports. Robert W. Baird boosted their target price on shares of Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Redburn Atlantic raised Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Tuesday, February 18th. Guggenheim raised their target price on Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Evercore ISI boosted their price target on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, Telsey Advisory Group upped their price objective on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average 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.