Cookson Peirce & Co. Inc. Grows Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Cookson Peirce & Co. Inc. grew its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 6.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,556 shares of the luxury accessories retailer’s stock after acquiring an additional 944 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Tapestry were worth $1,082,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TPR. Venturi Wealth Management LLC lifted its holdings in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after purchasing an additional 252 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Tapestry during the third quarter valued at approximately $47,000. Deseret Mutual Benefit Administrators increased its position in shares of Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after acquiring an additional 605 shares in the last quarter. Transamerica Financial Advisors Inc. increased its position in shares of Tapestry by 159,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after acquiring an additional 1,591 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of 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 in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TPR shares. JPMorgan Chase & Co. raised their price target 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. Daiwa America raised shares of Tapestry to a “hold” rating in a research report on Monday, November 18th. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Wells Fargo & Company raised their price target on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, UBS Group raised their price target on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and an average price target of $78.53.

Insider Activity at Tapestry

In related news, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction on 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 in the company, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the transaction, the chief financial officer now owns 146,587 shares in the company, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is owned by corporate insiders.

Tapestry Trading Down 0.2 %

Shares of TPR stock opened at $81.12 on Thursday. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The firm has a fifty day moving average price of $75.49 and a 200-day moving average price of $59.01. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The company has a market cap of $16.79 billion, a price-to-earnings ratio of 23.51, a PEG 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, beating analysts’ consensus estimates 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 business posted $1.63 earnings per share. As a group, equities analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors 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 1.73%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) 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.