Tapestry, Inc. (NYSE:TPR) Shares Bought by Mizuho Securities USA LLC

Mizuho Securities USA LLC grew its position in Tapestry, Inc. (NYSE:TPR) by 47.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,087 shares of the luxury accessories retailer’s stock after purchasing an additional 7,158 shares during the period. Mizuho Securities USA LLC’s holdings in Tapestry were worth $1,443,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Virtu Financial LLC acquired a new position in Tapestry in the 4th quarter worth approximately $271,000. Summit Global Investments acquired a new stake in shares of Tapestry in the fourth quarter worth $1,919,000. Semanteon Capital Management LP purchased a new position in shares of Tapestry during the fourth quarter worth $599,000. Harvest Fund Management Co. Ltd acquired a new position in Tapestry during the fourth quarter valued at $1,246,000. Finally, Thrivent Financial for Lutherans boosted its holdings in Tapestry by 18.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 175,307 shares of the luxury accessories retailer’s stock valued at $11,453,000 after purchasing an additional 27,886 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Trading Down 1.3 %

Shares of TPR stock opened at $74.70 on Wednesday. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The stock’s fifty day moving average is $77.49 and its two-hundred day moving average is $62.44. The firm has a market capitalization of $15.46 billion, a P/E ratio of 21.65, a PEG ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm earned $1.63 EPS. Research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were given a $0.35 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.87%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TPR shares. Telsey Advisory Group boosted their price objective on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Raymond James restated an “outperform” rating and issued a $88.00 price objective (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Guggenheim lifted their target price on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays increased their price target on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.53.

Insider Activity at Tapestry

In other news, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were 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 $3,397,592. This represents a 23.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of Tapestry 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 sale, the chief executive officer now directly owns 201,531 shares in the company, 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. Over the last 90 days, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is currently owned by insiders.

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.