5,495 Shares in Tapestry, Inc. (NYSE:TPR) Purchased by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,495 shares of the luxury accessories retailer’s stock, valued at approximately $359,000.

A number of other institutional investors have also added to or reduced their stakes in TPR. Jones Financial Companies Lllp increased its stake in Tapestry by 37.1% in the 4th quarter. Jones Financial Companies Lllp now owns 131,844 shares of the luxury accessories retailer’s stock worth $8,613,000 after acquiring an additional 35,651 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Tapestry by 30.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,113 shares of the luxury accessories retailer’s stock worth $205,000 after acquiring an additional 722 shares during the last quarter. Metis Global Partners LLC increased its stake in Tapestry by 91.3% in the 4th quarter. Metis Global Partners LLC now owns 8,380 shares of the luxury accessories retailer’s stock worth $547,000 after acquiring an additional 3,999 shares during the last quarter. US Bancorp DE increased its stake in Tapestry by 18.1% in the 4th quarter. US Bancorp DE now owns 17,440 shares of the luxury accessories retailer’s stock worth $1,139,000 after acquiring an additional 2,676 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in Tapestry in the 4th quarter worth about $303,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

TPR has been the topic of a number of research analyst reports. Telsey Advisory Group upped their target price on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Daiwa America upgraded Tapestry to a “hold” rating in a research note on Monday, November 18th. BMO Capital Markets upped their target price on Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, November 18th. Redburn Atlantic upgraded Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. increased their price objective on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.53.

Tapestry Price Performance

TPR opened at $81.23 on Wednesday. The stock’s 50 day simple moving average is $75.49 and its 200 day simple moving average is $59.01. 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, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The firm has a market cap of $16.81 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business posted $1.63 EPS. As a group, analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is currently 40.58%.

Insiders Place Their Bets

In other Tapestry news, 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 owns 146,587 shares in the company, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd Kahn sold 7,786 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the sale, the chief executive officer now owns 201,531 shares of the company’s stock, valued at approximately $17,652,100.29. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is currently 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.