Mitsubishi UFJ Trust & Banking Corp Has $1.94 Million Position in Tapestry, Inc. (NYSE:TPR)

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of Tapestry, Inc. (NYSE:TPR) by 66.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,717 shares of the luxury accessories retailer’s stock after selling 59,225 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Tapestry were worth $1,941,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Checchi Capital Advisers LLC grew its stake in shares of Tapestry by 1.9% during the fourth quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer’s stock worth $580,000 after buying an additional 163 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Tapestry by 0.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock valued at $1,261,000 after acquiring an additional 170 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Tapestry by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock worth $104,000 after acquiring an additional 182 shares during the last quarter. E Fund Management Co. Ltd. grew its position in Tapestry by 1.6% during the 4th quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer’s stock worth $833,000 after acquiring an additional 200 shares during the last quarter. Finally, Valley National Advisers Inc. increased its holdings in Tapestry by 0.5% in the 4th quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer’s stock worth $2,831,000 after purchasing an additional 202 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

TPR has been the topic of several research reports. Raymond James restated an “outperform” rating and set a $88.00 price target (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Tuesday, February 18th. UBS Group upped their price target on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Barclays lifted 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, Guggenheim increased their price objective on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.53.

Tapestry Stock Up 3.6 %

Shares of NYSE TPR opened at $72.92 on Wednesday. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The firm has a market cap of $15.10 billion, a PE ratio of 21.14, a P/E/G ratio of 2.01 and a beta of 1.57. The company’s fifty day simple moving average is $77.60 and its 200 day simple moving average is $63.51.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating 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 period last year, the business posted $1.63 earnings per share. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry’s payout ratio is currently 40.58%.

Insider Activity at Tapestry

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $87.59, for a total transaction of $681,975.74. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the sale, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by company 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.