American Trust Makes New $244,000 Investment in Tapestry, Inc. (NYSE:TPR)

American Trust acquired a new position in shares of Tapestry, Inc. (NYSE:TPRGet Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,560 shares of the luxury accessories retailer’s stock, valued at approximately $244,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. increased its stake in Tapestry by 340.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer’s stock worth $25,000 after acquiring an additional 511 shares during the period. Capital Analysts LLC acquired a new stake in shares of Tapestry during the 1st quarter valued at $28,000. AllSquare Wealth Management LLC acquired a new stake in shares of Tapestry during the 1st quarter valued at $39,000. Canada Pension Plan Investment Board boosted its holdings in shares of Tapestry by 955.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock valued at $41,000 after acquiring an additional 994 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC acquired a new position in Tapestry during the 1st quarter worth about $42,000. Institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 5,602 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $36.85, for a total transaction of $206,433.70. Following the sale, the vice president now owns 35,686 shares in the company, valued at $1,315,029.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Thomas A. Glaser sold 39,503 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $35.38, for a total transaction of $1,397,616.14. Following the sale, the insider now owns 243,321 shares of the company’s stock, valued at approximately $8,608,696.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Manesh Dadlani sold 5,602 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $36.85, for a total transaction of $206,433.70. Following the completion of the transaction, the vice president now directly owns 35,686 shares of the company’s stock, valued at $1,315,029.10. The disclosure for this sale can be found here. Insiders sold 47,110 shares of company stock worth $1,677,854 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Tapestry Stock Down 2.0 %

Shares of NYSE:TPR opened at $32.55 on Monday. Tapestry, Inc. has a 1 year low of $26.39 and a 1 year high of $47.05. The company has a market capitalization of $7.85 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 0.68 and a beta of 1.32. The business has a fifty day moving average price of $34.28 and a two-hundred day moving average price of $33.82. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.75 and a quick ratio of 1.08.

Tapestry (NYSE:TPRGet Rating) last posted its quarterly earnings data on Thursday, August 18th. The luxury accessories retailer reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. Tapestry had a net margin of 12.81% and a return on equity of 34.37%. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company posted $0.74 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Analysts forecast that Tapestry, Inc. will post 3.85 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 26th. Shareholders of record on Friday, September 9th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, September 8th. This is an increase from Tapestry’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 3.69%. Tapestry’s dividend payout ratio is 37.97%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TPR. Wells Fargo & Company lowered their price objective on Tapestry from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, July 7th. Credit Suisse Group lifted their price objective on Tapestry to $49.00 in a research report on Monday, August 22nd. BTIG Research lowered their price objective on Tapestry from $53.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, July 21st. The Goldman Sachs Group lowered their price objective on Tapestry from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, July 21st. Finally, Barclays lifted their price objective on Tapestry from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, August 22nd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $47.44.

About Tapestry

(Get Rating)

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 accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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