Trust Investment Advisors Makes New $248,000 Investment in Tapestry, Inc. (NYSE:TPR)

Trust Investment Advisors bought a new position in Tapestry, Inc. (NYSE:TPR) in the 4th quarter, HoldingsChannel reports. The fund bought 3,797 shares of the luxury accessories retailer’s stock, valued at approximately $248,000.

A number of other institutional investors have also recently bought and sold shares of TPR. Charles Schwab Investment Management Inc. lifted its position in shares of Tapestry by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock worth $522,471,000 after purchasing an additional 382,856 shares in the last quarter. Geode Capital Management LLC lifted its position in Tapestry by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock worth $262,156,000 after buying an additional 80,681 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Tapestry by 16.4% during the 4th quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer’s stock valued at $138,596,000 after buying an additional 298,409 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tapestry by 8.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,618 shares of the luxury accessories retailer’s stock valued at $66,459,000 after buying an additional 115,340 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in shares of Tapestry during the 3rd quarter valued at $64,016,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Down 1.3 %

Shares of TPR stock opened at $74.70 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 $15.46 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. The stock has a 50 day moving average of $77.49 and a 200-day moving average of $62.44.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating the consensus estimate 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 company posted $1.63 earnings per share. On average, equities analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.87%. Tapestry’s dividend payout ratio is 40.58%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TPR shares. Telsey Advisory Group lifted their price objective on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. UBS Group lifted their price target on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Wells Fargo & Company increased their price objective on Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Robert W. Baird boosted their target price on shares of Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.53.

Insider Buying and Selling at Tapestry

In related news, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $86.56, for a total value 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 represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd Kahn sold 21,107 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the transaction, the chief executive officer now owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. This represents a 10.66 % decrease in their position. 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 quarter. Corporate insiders own 1.18% of the company’s stock.

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.