Tapestry, Inc. (NYSE:TPR) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its position in shares of Tapestry, Inc. (NYSE:TPR) by 52.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 141,601 shares of the luxury accessories retailer’s stock after acquiring an additional 48,795 shares during the period. Tapestry makes up approximately 0.4% of Edgestream Partners L.P.’s investment portfolio, making the stock its 20th largest position. Edgestream Partners L.P.’s holdings in Tapestry were worth $9,251,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp raised its position in Tapestry by 7.2% during the third quarter. Van ECK Associates Corp now owns 111,184 shares of the luxury accessories retailer’s stock worth $4,841,000 after acquiring an additional 7,493 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of Tapestry by 22.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 4,558 shares of the luxury accessories retailer’s stock worth $214,000 after purchasing an additional 832 shares during the last quarter. Radnor Capital Management LLC acquired a new position in shares of Tapestry during the 3rd quarter worth approximately $894,000. Foster & Motley Inc. lifted its stake in Tapestry by 111.4% in the 3rd quarter. Foster & Motley Inc. now owns 30,159 shares of the luxury accessories retailer’s stock valued at $1,417,000 after buying an additional 15,895 shares in the last quarter. Finally, M&G PLC grew its holdings in Tapestry by 2.8% during the 3rd quarter. M&G PLC now owns 245,512 shares of the luxury accessories retailer’s stock valued at $11,539,000 after buying an additional 6,607 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tapestry

In other news, CFO Scott A. Roe sold 25,727 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock valued at $5,730,589 over the last 90 days. Corporate insiders own 1.18% of the company’s stock.

Tapestry Price Performance

Shares of Tapestry stock opened at $77.59 on Friday. The business’s fifty day moving average price is $75.81 and its 200 day moving average price is $59.16. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. 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 stock has a market capitalization of $16.06 billion, a P/E ratio of 22.49, a PEG ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating 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 period last year, the company posted $1.63 EPS. As a group, research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

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 paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.80%. Tapestry’s dividend payout ratio is currently 40.58%.

Analyst Ratings Changes

Several analysts have recently issued reports on TPR shares. StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Wells Fargo & Company raised their price target 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. Jefferies Financial Group lifted their price target on shares of Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. BMO Capital Markets upped their price objective on shares of Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $65.00 target price on shares of Tapestry in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

Tapestry Company 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.