Steward Partners Investment Advisory LLC Purchases 1,028 Shares of Tapestry, Inc. (NYSE:TPR)

Steward Partners Investment Advisory LLC boosted its holdings in Tapestry, Inc. (NYSE:TPR) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,957 shares of the luxury accessories retailer’s stock after acquiring an additional 1,028 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Tapestry were worth $6,726,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Winslow Asset Management Inc. lifted its holdings in shares of Tapestry by 0.4% during the 4th quarter. Winslow Asset Management Inc. now owns 113,359 shares of the luxury accessories retailer’s stock valued at $7,406,000 after buying an additional 437 shares during the period. NINE MASTS CAPITAL Ltd bought a new position in Tapestry in the fourth quarter valued at about $558,000. SBI Securities Co. Ltd. bought a new stake in shares of Tapestry during the 4th quarter valued at about $359,000. Jones Financial Companies Lllp increased its position in shares of Tapestry by 37.1% during the 4th quarter. Jones Financial Companies Lllp now owns 131,844 shares of the luxury accessories retailer’s stock valued at $8,613,000 after purchasing an additional 35,651 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Tapestry by 30.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,113 shares of the luxury accessories retailer’s stock valued at $205,000 after purchasing an additional 722 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on TPR shares. Morgan Stanley restated an “equal weight” rating and set a $65.00 target price on shares of Tapestry in a research report on Tuesday, January 21st. BMO Capital Markets boosted their price target on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, November 18th. Daiwa America upgraded shares of Tapestry to a “hold” rating in a research report on Monday, November 18th. Raymond James restated an “outperform” rating and set a $88.00 price objective (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Finally, Barclays increased their price target on Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

Tapestry Stock Down 0.2 %

Shares of NYSE:TPR opened at $81.12 on Thursday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The business has a 50 day simple moving average of $75.49 and a two-hundred day simple moving average of $59.01. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The firm has a market capitalization of $16.79 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last announced 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 return on equity of 44.00% and a net margin of 11.74%. During the same period in the prior year, the firm posted $1.63 EPS. On average, equities analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The business 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 dividend of $0.35 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.73%. Tapestry’s payout ratio is 40.58%.

Insider Activity

In other news, General Counsel David E. Howard sold 11,917 shares of Tapestry 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 transaction, the general counsel now directly owns 38,609 shares in the company, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the sale, the chief executive officer now owns 201,531 shares of the company’s stock, valued at $17,652,100.29. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,537 shares of company stock valued at $5,730,589. Corporate insiders own 1.18% of the company’s stock.

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.