Thrivent Financial for Lutherans Buys 27,886 Shares of Tapestry, Inc. (NYSE:TPR)

Thrivent Financial for Lutherans boosted its stake in Tapestry, Inc. (NYSE:TPR) by 18.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 175,307 shares of the luxury accessories retailer’s stock after purchasing an additional 27,886 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of Tapestry worth $11,453,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its position in shares of Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after acquiring an additional 252 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Tapestry during the 3rd quarter valued at about $47,000. Transamerica Financial Advisors Inc. boosted its position in shares of Tapestry by 159,100.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after acquiring an additional 1,591 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after acquiring an additional 496 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of Tapestry during the 3rd quarter valued at about $83,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

TPR opened at $72.99 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The stock has a market capitalization of $15.11 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. The stock’s 50 day moving average price is $77.17 and its 200-day moving average price is $61.81.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share 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 quarter last year, the firm earned $1.63 EPS. On average, equities research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company 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 dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. Tapestry’s dividend payout ratio is presently 40.58%.

Insider Activity at Tapestry

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the business’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. The trade was a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Todd Kahn sold 7,786 shares of the business’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 completion of the sale, the chief executive officer now directly owns 201,531 shares in the company, 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. Insiders have sold 66,537 shares of company stock worth $5,730,589 over the last ninety days. 1.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TPR. JPMorgan Chase & Co. lifted their price target on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Barclays boosted their target price on Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. The Goldman Sachs Group boosted their target price on Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Wells Fargo & Company boosted 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. Finally, Morgan Stanley restated an “equal weight” rating and issued a $65.00 target price on shares of Tapestry in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.53.

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.