Quartz Partners LLC Increases Stock Position in Tapestry, Inc. (NYSE:TPR)

Quartz Partners LLC grew its stake in Tapestry, Inc. (NYSE:TPR) by 7.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,895 shares of the luxury accessories retailer’s stock after buying an additional 818 shares during the quarter. Quartz Partners LLC’s holdings in Tapestry were worth $777,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TPR. Charles Schwab Investment Management Inc. increased its stake in Tapestry by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock valued at $357,732,000 after purchasing an additional 272,007 shares in the last quarter. Pacer Advisors Inc. increased its stake in Tapestry by 1.0% in the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock worth $285,580,000 after buying an additional 58,135 shares during the period. Geode Capital Management LLC lifted its holdings in Tapestry by 1.5% during the third 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 during the period. Allianz Asset Management GmbH raised its stake in 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 last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in Tapestry by 14.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after buying an additional 219,544 shares during the period. 90.77% of the stock is owned by institutional investors.

Insider Activity at Tapestry

In other news, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was 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 $3,397,592. The trade was a 23.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TPR. UBS Group upped their target price on shares of Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Raymond James reissued an “outperform” rating and issued a $88.00 target price (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. Robert W. Baird boosted their target price on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday. Barclays increased their price target on shares of Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. upped their target price on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.53.

Tapestry Price Performance

NYSE:TPR opened at $84.60 on Monday. 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 stock’s 50-day simple moving average is $72.63 and its 200 day simple moving average is $56.75. The company has a market cap of $17.51 billion, a P/E ratio of 24.52, a P/E/G ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping 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 prior year, the firm earned $1.63 earnings per share. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

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

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.