Cookson Peirce & Co. Inc. Grows Stake in Tapestry, Inc. (NYSE:TPR)

Cookson Peirce & Co. Inc. grew its position in shares of Tapestry, Inc. (NYSE:TPR) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,556 shares of the luxury accessories retailer’s stock after purchasing an additional 944 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Tapestry were worth $1,082,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of Tapestry by 7.5% during the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock valued at $20,381,000 after purchasing an additional 30,121 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in shares of Tapestry during the 4th quarter valued at $328,000. Valley Wealth Managers Inc. grew its position in Tapestry by 2.1% in the third quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock worth $19,971,000 after acquiring an additional 8,833 shares in the last quarter. Decker Retirement Planning Inc. purchased a new position in Tapestry in the fourth quarter worth $3,437,000. Finally, Westfield Capital Management Co. LP grew its position in Tapestry by 14.8% in the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after acquiring an additional 219,544 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Scott A. Roe sold 25,727 shares of the 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 directly owns 146,587 shares of the company’s stock, valued at $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd Kahn sold 21,107 shares of the 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 completion of the transaction, the chief executive officer now directly owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock valued at $5,730,589 over the last three months. Corporate insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. UBS Group upped their target price on shares of Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Evercore ISI upped their target price on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. BMO Capital Markets upped their target price 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, Morgan Stanley reiterated an “equal weight” rating and issued a $65.00 target price on shares of Tapestry in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.53.

Tapestry Stock Performance

Shares of NYSE:TPR opened at $81.12 on Thursday. The company has a market cap of $16.79 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58. The company has a 50-day moving average price of $75.49 and a 200-day moving average price of $59.01. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 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 prior year, the business earned $1.63 earnings per share. As a group, equities analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

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

About Tapestry

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.