7,295 Shares in Tapestry, Inc. (NYSE:TPR) Bought by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,295 shares of the luxury accessories retailer’s stock, valued at approximately $477,000.

Several other hedge funds and other institutional investors have also modified their holdings of TPR. Victory Capital Management Inc. raised its holdings in Tapestry by 7.5% during the third quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock valued at $20,381,000 after buying an additional 30,121 shares in the last quarter. Apollon Wealth Management LLC bought a new position in Tapestry during the fourth quarter valued at about $328,000. Charles Schwab Investment Management Inc. raised its holdings in 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 valued at $522,471,000 after buying an additional 382,856 shares in the last quarter. Decker Retirement Planning Inc. bought a new position in Tapestry during the fourth quarter valued at about $3,437,000. Finally, Westfield Capital Management Co. LP raised its holdings in Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after buying an additional 219,544 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction that occurred on 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the completion of the transaction, the chief financial officer now owns 146,587 shares of the company’s stock, valued at $12,688,570.72. This trade represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock worth $5,730,589 over the last quarter. Company insiders own 1.18% of the company’s stock.

Tapestry Stock Up 1.0 %

Shares of TPR opened at $71.15 on Tuesday. The stock has a market cap of $14.73 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 2.01 and a beta of 1.57. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company has a 50-day moving average price of $76.80 and a two-hundred day moving average price of $61.07.

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

Tapestry Dividend Announcement

The firm also recently declared 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. This represents a $1.40 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, March 6th. Tapestry’s dividend payout ratio is 40.58%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TPR. Telsey Advisory Group raised their target price on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Wells Fargo & Company raised their price target on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group raised their price target on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Daiwa America raised Tapestry to a “hold” rating in a research report on Monday, November 18th. Finally, Barclays raised their price target on Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average target price of $78.53.

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.