Tapestry, Inc. (NYSE:TPR) Shares Bought by Norinchukin Bank The

Norinchukin Bank The grew its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,179 shares of the luxury accessories retailer’s stock after buying an additional 916 shares during the quarter. Norinchukin Bank The’s holdings in Tapestry were worth $665,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Venturi Wealth Management LLC grew its holdings in Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after acquiring an additional 252 shares in the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in Tapestry in the fourth quarter worth about $48,000. UMB Bank n.a. increased its holdings in Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after buying an additional 496 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in Tapestry by 1,792.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer’s stock valued at $78,000 after buying an additional 1,129 shares in the last quarter. Finally, Atlas Capital Advisors Inc. lifted its holdings in Tapestry by 527.2% during the 4th quarter. Atlas Capital Advisors Inc. now owns 1,267 shares of the luxury accessories retailer’s stock worth $83,000 after buying an additional 1,065 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the transaction, the chief financial officer now owns 146,587 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the sale, the general counsel now directly 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. In the last three months, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by insiders.

Analysts Set New Price Targets

TPR has been the topic of several research reports. Morgan Stanley reissued an “equal weight” rating and set a $65.00 price target on shares of Tapestry in a research report on Tuesday, January 21st. Redburn Atlantic upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Tuesday, February 18th. Raymond James reaffirmed an “outperform” rating and set a $88.00 price objective (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Guggenheim raised their target price on shares of Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Evercore ISI lifted their target price on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.26.

Tapestry Stock Up 2.7 %

TPR stock opened at $64.89 on Wednesday. The firm’s 50-day moving average is $73.37 and its two-hundred day moving average is $65.52. The company has a market capitalization of $13.43 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. 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 (NYSE:TPR) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping 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 quarter in the previous year, the business earned $1.63 EPS. On average, analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 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.