Tapestry, Inc. (NYSE:TPR) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC lifted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 95.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,779 shares of the luxury accessories retailer’s stock after purchasing an additional 31,695 shares during the period. Ieq Capital LLC’s holdings in Tapestry were worth $4,232,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Waldron Private Wealth LLC acquired a new position in shares of Tapestry during the 3rd quarter worth approximately $25,000. Venturi Wealth Management LLC boosted its holdings in shares of Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after purchasing an additional 252 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Tapestry during the 3rd quarter worth approximately $47,000. Deseret Mutual Benefit Administrators boosted its holdings in shares of Tapestry by 68.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after purchasing an additional 605 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. boosted its holdings in shares of Tapestry by 159,100.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after purchasing an additional 1,591 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Down 2.2 %

Tapestry stock opened at $84.60 on Friday. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The stock’s fifty day simple moving average is $72.63 and its 200-day simple moving average is $56.48. 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 firm has a market capitalization of $17.51 billion, a P/E ratio of 24.52, a P/E/G ratio of 2.07 and a beta of 1.58.

Tapestry (NYSE:TPR) last posted its quarterly earnings data 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 return on equity of 44.00% and a net margin of 11.74%. During the same quarter last year, the company earned $1.63 EPS. As a group, equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Thursday, March 6th. Tapestry’s dividend payout ratio is currently 40.58%.

Wall Street Analysts Forecast Growth

TPR has been the topic of several analyst reports. Barclays lifted their price target on shares of Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Citigroup lifted their price target on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 price target on shares of Tapestry in a research report on Tuesday, January 21st. Finally, TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $78.53.

Insider Transactions at Tapestry

In related news, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the transaction, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.18% of the company’s stock.

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.