Generali Investments CEE investicni spolecnost a.s. Purchases Shares of 4,000 Tapestry, Inc. (NYSE:TPR)

Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,000 shares of the luxury accessories retailer’s stock, valued at approximately $261,000.

Several other institutional investors have also added to or reduced their stakes in the business. Venturi Wealth Management LLC boosted its holdings in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after purchasing an additional 252 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Tapestry during the third quarter worth about $47,000. Transamerica Financial Advisors Inc. boosted its holdings in shares of Tapestry by 159,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after purchasing an additional 1,591 shares during the period. UMB Bank n.a. boosted its holdings in shares of Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after purchasing an additional 496 shares during the period. Finally, True Wealth Design LLC purchased a new stake in shares of Tapestry during the third quarter worth about $83,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Price Performance

Shares of NYSE TPR opened at $75.00 on Monday. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 2.01 and a beta of 1.57. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The company has a 50 day simple moving average of $76.22 and a two-hundred day simple moving average of $59.80. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85.

Tapestry (NYSE:TPR) last announced 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 net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the prior year, the company earned $1.63 earnings per share. Analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal 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. This represents a $1.40 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is currently 40.58%.

Insider Activity at Tapestry

In related news, General Counsel David E. Howard sold 11,917 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares of the company’s stock, valued at $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Kahn sold 7,786 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the sale, the chief executive officer now directly owns 201,531 shares of the company’s stock, valued at $17,652,100.29. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock valued at $5,730,589 over the last 90 days. Corporate insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TPR shares. Jefferies Financial Group increased their target price on shares of Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Robert W. Baird raised their price objective on shares of Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Redburn Atlantic upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Tuesday, February 18th. The Goldman Sachs Group raised their price objective on shares of Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Barclays raised their price objective on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.53.

About Tapestry

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.