Tapestry, Inc. (NYSE:TPR) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its position in shares of Tapestry, Inc. (NYSE:TPR) by 17.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,515 shares of the luxury accessories retailer’s stock after acquiring an additional 1,896 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Tapestry were worth $818,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Tapestry by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock valued at $522,471,000 after purchasing an additional 382,856 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Tapestry by 1.0% during the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock valued at $285,580,000 after purchasing an additional 58,135 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Tapestry by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock valued at $262,156,000 after purchasing an additional 80,681 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Tapestry by 16.4% during the fourth quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer’s stock valued at $138,596,000 after purchasing an additional 298,409 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its stake 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 valued at $79,822,000 after purchasing an additional 219,544 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In related news, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. The sale was disclosed in a 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 that occurred on Friday, February 21st. The shares were 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 of the company’s stock, valued at approximately $17,652,100.29. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock valued at $5,730,589 in the last 90 days. 1.18% of the stock is currently owned by corporate insiders.

Tapestry Trading Up 1.1 %

NYSE:TPR opened at $70.48 on Friday. 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 fifty-two week low of $35.23 and a fifty-two week high of $90.85. The stock’s 50-day moving average is $76.73 and its two-hundred day moving average is $60.72. The stock has a market cap of $14.59 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR) last released its 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 in the previous year, the firm posted $1.63 EPS. As a group, equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid 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 1.99%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Analyst Ratings Changes

TPR has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their price objective on shares of Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. boosted their price target on shares of Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Daiwa America upgraded shares of Tapestry to a “hold” rating in a research report on Monday, November 18th. Telsey Advisory Group boosted their price target on shares of Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.