Thrivent Financial For Lutherans purchased a new stake in shares of Tapestry Inc (NYSE:TPR) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 11,550 shares of the luxury accessories retailer’s stock, valued at approximately $511,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. City Holding Co. acquired a new stake in shares of Tapestry during the fourth quarter valued at about $333,000. Oak Point Wealth Management acquired a new stake in shares of Tapestry during the fourth quarter valued at about $469,000. Sheets Smith Wealth Management acquired a new stake in shares of Tapestry during the fourth quarter valued at about $760,000. CWM LLC acquired a new stake in shares of Tapestry during the fourth quarter valued at about $5,978,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Tapestry during the fourth quarter valued at about $233,000. Institutional investors and hedge funds own 89.37% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Piper Jaffray set a $60.00 price target on shares of Tapestry and gave the company a “buy” rating in a research report on Thursday. Citigroup reiterated an “outperform” rating and set a $60.00 price target (up from $55.00) on shares of Tapestry in a research report on Thursday, March 15th. Credit Suisse Group assumed coverage on shares of Tapestry in a research report on Monday, March 12th. They set an “outperform” rating and a $60.00 price target for the company. Loop Capital assumed coverage on shares of Tapestry in a research report on Thursday, March 8th. They set a “buy” rating and a $57.00 price target for the company. Finally, TheStreet upgraded shares of Tapestry from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $51.74.
Tapestry (NYSE:TPR) last issued its quarterly earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.21. Tapestry had a net margin of 6.14% and a return on equity of 23.68%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. equities research analysts forecast that Tapestry Inc will post 2.58 EPS for the current fiscal year.
The company also recently declared a dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be paid a $0.3375 dividend. The ex-dividend date is Thursday, March 8th. Tapestry’s dividend payout ratio is currently 120.54%.
In other news, insider Sarah Dunn sold 6,229 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $48.23, for a total transaction of $300,424.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan J. Kropf sold 6,185 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $50.80, for a total transaction of $314,198.00. The disclosure for this sale can be found here. Insiders sold 140,551 shares of company stock valued at $7,020,158 in the last quarter. 0.98% of the stock is owned by insiders.
Tapestry Company Profile
Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.
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