Truvestments Capital LLC Grows Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Truvestments Capital LLC lifted its position in shares of Tapestry, Inc. (NYSE:TPR) by 13.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,504 shares of the luxury accessories retailer’s stock after buying an additional 3,159 shares during the quarter. Truvestments Capital LLC’s holdings in Tapestry were worth $1,731,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TPR. Venturi Wealth Management LLC lifted its stake in shares of Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after buying an additional 252 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Tapestry during the 3rd quarter valued at $47,000. Transamerica Financial Advisors Inc. lifted its stake in shares of 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 valued at $75,000 after buying an additional 1,591 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after buying an additional 496 shares in the last quarter. Finally, True Wealth Design LLC purchased a new position in shares of Tapestry during the 3rd quarter valued at $83,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

TPR stock opened at $71.90 on Wednesday. The stock has a market cap of $14.88 billion, a PE ratio of 20.84, a P/E/G ratio of 2.01 and a beta of 1.57. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company has a 50-day moving average price of $76.45 and a 200 day moving average price of $60.22.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) 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 period in the previous year, the business posted $1.63 earnings per share. Equities research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a $0.35 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.95%. Tapestry’s payout ratio is presently 40.58%.

Insider Transactions at Tapestry

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of the company’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 transaction, the chief executive officer now owns 201,531 shares in the company, valued at approximately $17,652,100.29. This represents a 3.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the company’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 transaction, the general counsel now owns 38,609 shares in the company, valued at $3,397,592. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,537 shares of company stock valued at $5,730,589. Company insiders own 1.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on TPR shares. Daiwa America upgraded shares of Tapestry to a “hold” rating in a report on Monday, November 18th. The Goldman Sachs Group lifted their price target on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 7th. Telsey Advisory Group lifted their price target on shares of Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $65.00 price target on shares of Tapestry in a report on Tuesday, January 21st. Finally, Raymond James restated an “outperform” rating and issued a $88.00 target price (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.53.

Tapestry Company 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.