3,530 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,530 shares of the luxury accessories retailer’s stock, valued at approximately $230,000.

A number of other large investors have also recently bought and sold shares of the stock. Vestcor Inc lifted its position in shares of Tapestry by 581.3% in the fourth quarter. Vestcor Inc now owns 8,223 shares of the luxury accessories retailer’s stock valued at $537,000 after acquiring an additional 7,016 shares in the last quarter. Swiss National Bank lifted its holdings in Tapestry by 2.1% in the 4th quarter. Swiss National Bank now owns 457,800 shares of the luxury accessories retailer’s stock valued at $29,908,000 after purchasing an additional 9,200 shares in the last quarter. Truvestments Capital LLC boosted its stake in shares of Tapestry by 13.5% during the 4th quarter. Truvestments Capital LLC now owns 26,504 shares of the luxury accessories retailer’s stock worth $1,731,000 after purchasing an additional 3,159 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Tapestry by 371.3% during the fourth quarter. Farther Finance Advisors LLC now owns 7,268 shares of the luxury accessories retailer’s stock worth $475,000 after buying an additional 5,726 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Tapestry by 4.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 13,192 shares of the luxury accessories retailer’s stock valued at $862,000 after buying an additional 620 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on TPR shares. BMO Capital Markets lifted their target price 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. Wells Fargo & Company increased their target price on Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Evercore ISI lifted their price target on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. The Goldman Sachs Group upped their price objective on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Robert W. Baird raised their target price on shares of Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.53.

Tapestry Price Performance

Shares of NYSE TPR opened at $70.48 on Monday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $90.85. The company has a market capitalization of $14.59 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.01 and a beta of 1.57. The business has a 50-day moving average of $76.73 and a 200-day moving average of $60.86.

Tapestry (NYSE:TPR) last issued 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 period in the prior year, the business earned $1.63 earnings per share. On average, equities analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

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

Insider Buying and Selling at Tapestry

In other Tapestry news, 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 sale, the chief financial officer now owns 146,587 shares of the company’s stock, valued at $12,688,570.72. The trade was a 14.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the 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 completion of the transaction, the general counsel now directly owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. 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 in the last ninety days. Insiders own 1.18% of the company’s stock.

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.