Poinciana Advisors Group LLC Invests $225,000 in Tapestry, Inc. (NYSE:TPR)

Poinciana Advisors Group LLC purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) during the fourth quarter, HoldingsChannel reports. The firm purchased 3,442 shares of the luxury accessories retailer’s stock, valued at approximately $225,000.

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Tapestry by 7.5% during the third quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock worth $20,381,000 after purchasing an additional 30,121 shares during the period. Apollon Wealth Management LLC acquired a new position in shares of Tapestry during the fourth quarter worth $328,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tapestry by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock worth $522,471,000 after purchasing an additional 382,856 shares during the period. Valley Wealth Managers Inc. raised its stake in Tapestry by 2.1% during the third quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock worth $19,971,000 after buying an additional 8,833 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in Tapestry during the fourth quarter worth $3,437,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Up 1.1 %

Shares of NYSE TPR opened at $70.48 on Friday. The stock has a market capitalization of $14.59 billion, a P/E ratio of 20.43, a P/E/G ratio of 2.01 and a beta of 1.57. The company has a 50-day moving average price of $76.73 and a 200-day moving average price of $60.57. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping the consensus estimate 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 firm earned $1.63 EPS. On average, equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $65.00 target price on shares of Tapestry in a research note on Tuesday, January 21st. Jefferies Financial Group lifted their target price on shares of Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Evercore ISI lifted their target price on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. The Goldman Sachs Group lifted their target price on shares of Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company lifted their target price on shares of Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.53.

Insider Buying and Selling

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $86.56, for a total value of $2,226,929.12. Following the transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Kahn sold 21,107 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the completion of the transaction, the chief executive officer now owns 176,985 shares in the company, valued at approximately $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is owned by insiders.

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.