Farther Finance Advisors LLC Buys 5,726 Shares of Tapestry, Inc. (NYSE:TPR)

Farther Finance Advisors LLC raised its stake in Tapestry, Inc. (NYSE:TPR) by 371.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,268 shares of the luxury accessories retailer’s stock after acquiring an additional 5,726 shares during the quarter. Farther Finance Advisors LLC’s holdings in Tapestry were worth $475,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tapestry by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock worth $522,471,000 after acquiring an additional 382,856 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Tapestry by 1.0% in the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock worth $285,580,000 after acquiring an additional 58,135 shares during the last quarter. Geode Capital Management LLC raised its holdings in Tapestry by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock valued at $262,156,000 after buying an additional 80,681 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Tapestry by 16.4% in the 4th quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer’s stock valued at $138,596,000 after buying an additional 298,409 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in Tapestry by 14.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after buying an additional 219,544 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of TPR stock opened at $70.48 on Monday. The company has a market cap of $14.59 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The firm has a 50 day moving average of $76.73 and a 200-day moving average of $60.86.

Tapestry (NYSE:TPR) last posted its quarterly earnings results 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 period in the prior year, the company posted $1.63 earnings per share. On average, equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s payout ratio is currently 40.58%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TPR shares. The Goldman Sachs Group raised their price objective on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $65.00 price objective on shares of Tapestry in a report on Tuesday, January 21st. Guggenheim raised their price objective on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. BMO Capital Markets raised their price objective on shares of Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, November 18th. Finally, Robert W. Baird raised their price target on shares of Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.53.

Insider Activity at Tapestry

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction 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 transaction, the chief executive officer now directly owns 201,531 shares of the company’s stock, valued at $17,652,100.29. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by company insiders.

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.