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

NBC Securities Inc. increased its position in shares of Tapestry, Inc. (NYSE:TPR) by 172,300.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,724 shares of the luxury accessories retailer’s stock after purchasing an additional 1,723 shares during the quarter. NBC Securities Inc.’s holdings in Tapestry were worth $121,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TPR. Southpoint Capital Advisors LP acquired a new position in Tapestry during the fourth quarter worth $130,660,000. Price T Rowe Associates Inc. MD raised its holdings in Tapestry by 593.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer’s stock worth $143,198,000 after purchasing an additional 1,875,753 shares during the last quarter. Norges Bank acquired a new position in Tapestry during the fourth quarter worth $114,199,000. Point72 Asset Management L.P. acquired a new position in Tapestry during the fourth quarter worth $101,433,000. Finally, Candlestick Capital Management LP acquired a new position in shares of Tapestry in the fourth quarter worth $66,902,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Price Performance

TPR stock opened at $79.23 on Tuesday. The stock has a 50-day moving average price of $72.73 and a two-hundred day moving average price of $72.22. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The company has a market cap of $16.46 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Friday, June 6th. Tapestry’s dividend payout ratio is presently 36.84%.

Insiders Place Their Bets

In related news, CEO Todd Kahn sold 40,000 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $81.40, for a total value of $3,256,000.00. Following the transaction, the chief executive officer now owns 116,062 shares in the company, valued at approximately $9,447,446.80. The trade was a 25.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Manesh Dadlani sold 1,399 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $81.88, for a total value of $114,550.12. Following the completion of the transaction, the vice president now owns 40,922 shares in the company, valued at approximately $3,350,693.36. This trade represents a 3.31% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on Tapestry from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Redburn Atlantic raised Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a report on Tuesday, February 18th. Wall Street Zen raised Tapestry from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th. Citigroup boosted their price target on Tapestry from $81.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $100.00 price target (up from $90.00) on shares of Tapestry in a report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $83.89.

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.