7,295 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC acquired a new position in Tapestry, Inc. (NYSE:TPR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 7,295 shares of the luxury accessories retailer’s stock, valued at approximately $477,000.

Other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its position in Tapestry by 78.0% in the 4th 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 last quarter. Brooklyn Investment Group acquired a new stake in Tapestry during the 3rd quarter worth $47,000. UMB Bank n.a. grew its holdings in Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after acquiring an additional 496 shares during the period. Parkside Financial Bank & Trust grew its holdings in Tapestry by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock worth $104,000 after acquiring an additional 182 shares during the period. Finally, Transamerica Financial Advisors Inc. grew its holdings in 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 worth $75,000 after acquiring an additional 1,591 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Up 1.0 %

Shares of NYSE:TPR opened at $71.15 on Tuesday. The company’s 50-day moving average price is $76.80 and its two-hundred day moving average price is $61.07. 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 one year low of $35.23 and a one year high of $90.85. The stock has a market capitalization of $14.73 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping 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 previous year, the firm posted $1.63 EPS. On average, equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders 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 yield of 1.97%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Wall Street Analyst Weigh In

A number of analysts have commented on TPR shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 target price on shares of Tapestry in a report on Tuesday, January 21st. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their target price on shares of Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Robert W. Baird boosted their price target on shares of Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company boosted their price target on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and a consensus price target of $78.53.

Insiders Place Their Bets

In other news, General Counsel David E. Howard sold 11,917 shares of the company’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 sale, the general counsel now directly owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This represents a 23.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Kahn sold 21,107 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the completion of the sale, the chief executive officer now directly owns 176,985 shares in the company, valued at approximately $14,866,740. The trade was a 10.66 % 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 valued at $5,730,589 in the last three months. 1.18% of the stock is currently owned by corporate insiders.

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.