Geode Capital Management LLC Increases Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Geode Capital Management LLC boosted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 3.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,765,596 shares of the luxury accessories retailer’s stock after buying an additional 176,717 shares during the period. Geode Capital Management LLC owned approximately 2.47% of Tapestry worth $376,247,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Public Sector Pension Investment Board lifted its holdings in shares of Tapestry by 3.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 40,119 shares of the luxury accessories retailer’s stock worth $1,885,000 after acquiring an additional 1,200 shares during the last quarter. Captrust Financial Advisors raised its position in Tapestry by 97.9% in the 3rd quarter. Captrust Financial Advisors now owns 22,505 shares of the luxury accessories retailer’s stock worth $1,057,000 after purchasing an additional 11,131 shares during the period. HighTower Advisors LLC lifted its stake in Tapestry by 0.9% in the third quarter. HighTower Advisors LLC now owns 50,797 shares of the luxury accessories retailer’s stock worth $2,386,000 after purchasing an additional 445 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Tapestry by 5.2% during the third quarter. Janus Henderson Group PLC now owns 113,103 shares of the luxury accessories retailer’s stock valued at $5,314,000 after buying an additional 5,570 shares during the period. Finally, Integrated Wealth Concepts LLC grew its stake in shares of Tapestry by 17.2% during the third quarter. Integrated Wealth Concepts LLC now owns 19,695 shares of the luxury accessories retailer’s stock valued at $925,000 after buying an additional 2,885 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TPR shares. Evercore ISI boosted their price objective on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. UBS Group boosted their target price on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Wells Fargo & Company raised their price target on shares of Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group boosted their price objective on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Barclays raised their target price on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.53.

Tapestry Trading Down 3.6 %

NYSE:TPR opened at $62.78 on Friday. The firm has a 50 day moving average of $77.22 and a 200 day moving average of $63.73. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. 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 $13.00 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates 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 business posted $1.63 earnings per share. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Thursday, March 6th. Tapestry’s payout ratio is currently 40.58%.

Insider Buying and Selling

In other news, General Counsel David E. Howard sold 11,917 shares of the firm’s stock in a transaction dated 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 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 document filed with the SEC, which is available through the SEC website. Also, CEO Todd Kahn sold 21,107 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total value of $1,772,988.00. Following the completion of the sale, the chief executive officer now owns 176,985 shares in the company, valued at approximately $14,866,740. This represents a 10.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock worth $5,730,589 in the last three months. Corporate insiders own 1.18% of the company’s stock.

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.