Sanctuary Advisors LLC Purchases 625 Shares of Tapestry, Inc. (NYSE:TPR)

Sanctuary Advisors LLC raised its position in shares of Tapestry, Inc. (NYSE:TPR) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,464 shares of the luxury accessories retailer’s stock after purchasing an additional 625 shares during the period. Sanctuary Advisors LLC’s holdings in Tapestry were worth $2,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TPR. Erste Asset Management GmbH purchased a new stake in shares of Tapestry during the third quarter worth $64,016,000. WT Asset Management Ltd purchased a new stake in shares of Tapestry during the fourth quarter worth $42,762,000. Bank of Montreal Can lifted its position in shares of Tapestry by 76.6% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Tapestry by 3.7% during the third 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 in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after acquiring an additional 219,544 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Down 2.2 %

TPR opened at $84.60 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The stock has a market cap of $17.51 billion, a PE ratio of 24.52, a P/E/G ratio of 2.01 and a beta of 1.58. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. The business’s fifty day simple moving average is $72.63 and its 200 day simple moving average is $56.61.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (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 period in the previous year, the firm earned $1.63 EPS. As a group, research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.65%. Tapestry’s payout ratio is presently 40.58%.

Insiders Place Their Bets

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the sale, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TPR shares. 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. JPMorgan Chase & Co. increased their target price on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group increased their price objective on Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Robert W. Baird increased their price objective on Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Daiwa America upgraded Tapestry to a “hold” rating in a research report on Monday, November 18th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.53.

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.