Tapestry, Inc. (NYSE:TPR) is Delphi Management Inc. MA’s 6th Largest Position

Delphi Management Inc. MA decreased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,586 shares of the luxury accessories retailer’s stock after selling 5,243 shares during the quarter. Tapestry comprises about 1.6% of Delphi Management Inc. MA’s investment portfolio, making the stock its 6th biggest holding. Delphi Management Inc. MA’s holdings in Tapestry were worth $1,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its stake in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after purchasing an additional 252 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Tapestry in the third quarter worth $47,000. Transamerica Financial Advisors Inc. raised its stake in shares of Tapestry by 159,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after purchasing an additional 1,591 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after purchasing an additional 496 shares during the last quarter. Finally, True Wealth Design LLC purchased a new position in shares of Tapestry in the third quarter worth $83,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

NYSE:TPR opened at $71.15 on Tuesday. The stock has a 50-day simple moving average of $76.80 and a two-hundred day simple moving average of $61.07. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The firm has a market capitalization of $14.73 billion, a PE ratio of 20.62, a P/E/G ratio of 2.01 and a beta of 1.57.

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

Tapestry Announces Dividend

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 $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.97%. Tapestry’s payout ratio is 40.58%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Evercore ISI boosted their price target on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Telsey Advisory Group boosted their price target on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. upped 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. Guggenheim upped their price objective on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Redburn Atlantic upgraded Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and an average price target of $78.53.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of the stock in a transaction dated Friday, February 21st. The shares were 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 of the company’s stock, valued at $17,652,100.29. This represents a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of Tapestry 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 directly owns 146,587 shares in the company, valued at $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. Insiders sold a total of 66,537 shares of company stock valued at $5,730,589 in the last three months. 1.18% of the stock is currently owned by corporate insiders.

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.