Cerity Partners LLC Has $7.67 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Cerity Partners LLC grew its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,341 shares of the luxury accessories retailer’s stock after acquiring an additional 7,235 shares during the quarter. Cerity Partners LLC owned 0.05% of Tapestry worth $7,667,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its position in Tapestry by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock worth $522,471,000 after acquiring an additional 382,856 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Tapestry by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer’s stock valued at $376,247,000 after purchasing an additional 176,717 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Tapestry by 15.2% during the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer’s stock worth $270,304,000 after purchasing an additional 546,497 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Tapestry by 16.4% in the fourth 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. Finally, Norges Bank bought a new position in Tapestry in the 4th quarter valued at approximately $114,199,000. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total value of $681,975.74. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now owns 38,609 shares of the company’s stock, valued at $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,537 shares of company stock valued at $5,730,589. Company insiders own 1.18% of the company’s stock.

Tapestry Stock Down 0.8 %

Tapestry stock opened at $63.40 on Friday. The company has a market capitalization of $13.13 billion, a PE ratio of 18.38, a PEG ratio of 2.01 and a beta of 1.37. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The firm’s fifty day moving average is $75.82 and its 200 day moving average is $64.69. 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 (NYSE:TPR) last announced 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 net margin of 11.74% and a return on equity of 44.00%. During the same quarter last year, the company earned $1.63 EPS. As a group, sell-side analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were issued a $0.35 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 2.21%. Tapestry’s payout ratio is currently 40.58%.

Analyst Ratings Changes

A number of research firms have weighed in on TPR. Guggenheim boosted their target price on shares of Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 7th. JPMorgan Chase & Co. boosted their price objective on shares of Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised their target price on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group upped their price target on Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Evercore ISI increased their price target on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.63.

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.