Deseret Mutual Benefit Administrators Buys 498 Shares of Tapestry, Inc. (NYSE:TPR)

Deseret Mutual Benefit Administrators grew its stake in Tapestry, Inc. (NYSE:TPR) by 33.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,990 shares of the luxury accessories retailer’s stock after acquiring an additional 498 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Tapestry were worth $130,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Waldron Private Wealth LLC purchased a new position in Tapestry in the third quarter valued at about $25,000. Venturi Wealth Management LLC boosted its holdings in shares of Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after buying an additional 252 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Tapestry in the 3rd quarter worth approximately $47,000. Transamerica Financial Advisors Inc. raised its stake in shares of Tapestry by 159,100.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after acquiring an additional 1,591 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after acquiring an additional 496 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. BMO Capital Markets lifted their price target on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, November 18th. Evercore ISI boosted their target price on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Bank of America upped their target price on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Robert W. Baird raised their price target on Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, 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. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.53.

Tapestry Stock Down 2.2 %

Shares of TPR opened at $84.60 on Friday. The stock’s 50-day moving average price is $72.63 and its 200-day moving average price is $56.48. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. The company has a market capitalization of $17.51 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 2.07 and a beta of 1.58. 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 posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping 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 company posted $1.63 earnings per share. On average, sell-side analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.65%. Tapestry’s payout ratio is currently 40.58%.

Insiders Place Their Bets

In other news, General Counsel David E. Howard sold 11,917 shares of the firm’s stock in a transaction dated 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 transaction, the general counsel now directly owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.18% of the stock is currently owned by corporate insiders.

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.