3,191 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by Brown Advisory Inc.

Brown Advisory Inc. purchased a new position in Tapestry, Inc. (NYSE:TPRFree Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,191 shares of the luxury accessories retailer’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Coppell Advisory Solutions LLC grew its stake in shares of Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer’s stock worth $34,000 after buying an additional 150 shares during the last quarter. Private Trust Co. NA boosted its stake in Tapestry by 27.2% during the 1st quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer’s stock valued at $50,000 after purchasing an additional 153 shares during the last quarter. Mather Group LLC. boosted its stake in Tapestry by 2.8% during the 1st quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer’s stock valued at $424,000 after purchasing an additional 165 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Tapestry by 25.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer’s stock valued at $68,000 after purchasing an additional 194 shares during the last quarter. Finally, Ossiam boosted its stake in Tapestry by 1.4% during the 4th quarter. Ossiam now owns 22,103 shares of the luxury accessories retailer’s stock valued at $1,444,000 after purchasing an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TPR. Citigroup increased their target price on Tapestry from $81.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Barclays reiterated an “overweight” rating and set a $105.00 target price (up from $98.00) on shares of Tapestry in a research note on Friday, July 11th. UBS Group increased their target price on Tapestry from $68.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. The Goldman Sachs Group increased their target price on Tapestry from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Argus increased their target price on Tapestry from $78.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, June 17th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.17.

Check Out Our Latest Stock Report on Tapestry

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 40,000 shares of Tapestry 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 completion of the transaction, the chief executive officer owned 116,062 shares in the company, valued at approximately $9,447,446.80. This trade represents a 25.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Manesh Dadlani sold 1,399 shares of Tapestry 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 owned 40,922 shares of the company’s stock, valued at approximately $3,350,693.36. This represents a 3.31% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.

Tapestry Price Performance

Shares of Tapestry stock opened at $100.68 on Thursday. Tapestry, Inc. has a one year low of $35.23 and a one year high of $102.25. The stock’s fifty day moving average is $84.74 and its 200 day moving average is $76.87. The stock has a market cap of $20.91 billion, a P/E ratio of 26.49, a P/E/G ratio of 2.10 and a beta of 1.47. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.22 and a current ratio of 1.76.

Tapestry (NYSE:TPRGet Free Report) last announced its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.14. Tapestry had a return on equity of 51.84% and a net margin of 12.50%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm earned $0.81 EPS. Tapestry’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side 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 was paid on Monday, June 23rd. Shareholders of record on Friday, June 6th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.39%. Tapestry’s dividend payout ratio is presently 36.84%.

Tapestry Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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