Tapestry, Inc. (NYSE:TPR) Shares Purchased by Empirical Finance LLC

Empirical Finance LLC lifted its stake in Tapestry, Inc. (NYSE:TPR) by 137.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,893 shares of the luxury accessories retailer’s stock after purchasing an additional 11,518 shares during the quarter. Empirical Finance LLC’s holdings in Tapestry were worth $1,300,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TPR. Erste Asset Management GmbH purchased a new position in shares of Tapestry in the third quarter worth $64,016,000. WT Asset Management Ltd purchased a new position in Tapestry in the 4th quarter worth $42,762,000. Bank of Montreal Can raised its stake in Tapestry by 76.6% in the 3rd quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer’s stock worth $59,641,000 after acquiring an additional 539,793 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Tapestry by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after acquiring an additional 272,007 shares during the period. Finally, Westfield Capital Management Co. LP grew its stake in Tapestry by 14.8% during 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 purchasing an additional 219,544 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the sale, the vice president now directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.18% of the stock is owned by company insiders.

Tapestry Trading Down 2.3 %

Shares of NYSE:TPR opened at $80.28 on Monday. The business’s 50 day moving average price is $68.08 and its 200-day moving average price is $53.45. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $87.87. The firm has a market capitalization of $18.71 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 2.30 and a beta of 1.58. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 4.38.

Tapestry (NYSE:TPR) last posted 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 prior year, the business earned $1.63 EPS. On average, equities research analysts forecast that Tapestry, Inc. will post 4.7 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

Analyst Ratings Changes

TPR has been the subject of several research analyst reports. Telsey Advisory Group raised their price objective on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. The Goldman Sachs Group raised their price target on shares of Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday. BMO Capital Markets increased their price objective on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, November 18th. Raymond James reissued an “outperform” rating and set a $88.00 target price (up previously from $79.00) on shares of Tapestry in a report on Friday. Finally, TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a report on Tuesday, October 29th. Five research 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, Tapestry has an average rating of “Moderate Buy” and a consensus target price of $73.17.

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.