Newbridge Financial Services Group Inc. Makes New Investment in Tapestry, Inc. (NYSE:TPR)

Newbridge Financial Services Group Inc. purchased a new stake in Tapestry, Inc. (NYSE:TPR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,859 shares of the luxury accessories retailer’s stock, valued at approximately $121,000.

Several other large investors have also modified their holdings of the business. Entropy Technologies LP purchased a new stake in Tapestry in the 4th quarter valued at approximately $2,461,000. Empirical Finance LLC raised its holdings in shares of Tapestry by 137.5% in the fourth quarter. Empirical Finance LLC now owns 19,893 shares of the luxury accessories retailer’s stock worth $1,300,000 after acquiring an additional 11,518 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Tapestry by 6.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 7,082 shares of the luxury accessories retailer’s stock valued at $463,000 after acquiring an additional 421 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of Tapestry during the fourth quarter valued at $328,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Tapestry during the 4th quarter worth about $300,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the topic of a number of recent research reports. Morgan Stanley restated an “equal weight” rating and issued a $65.00 target price on shares of Tapestry in a report on Tuesday, January 21st. Barclays upped their price objective on shares of Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday. Guggenheim boosted their price target on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday. Telsey Advisory Group raised their price objective on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company upped their target price on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.17.

Tapestry Price Performance

TPR opened at $79.17 on Tuesday. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $87.87. The company has a 50 day moving average of $68.37 and a two-hundred day moving average of $53.73. The company has a market cap of $18.45 billion, a P/E ratio of 22.95, a P/E/G ratio of 2.30 and a beta of 1.58. The company has a quick ratio of 4.38, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR) last announced 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 in the previous year, the business posted $1.63 earnings per share. On average, analysts expect that Tapestry, Inc. will post 4.7 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.77%. Tapestry’s dividend payout ratio (DPR) is currently 40.58%.

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.