Jones Financial Companies Lllp Has $8.61 Million Position in Tapestry, Inc. (NYSE:TPR)

Jones Financial Companies Lllp increased its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 37.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 131,844 shares of the luxury accessories retailer’s stock after purchasing an additional 35,651 shares during the period. Jones Financial Companies Lllp owned approximately 0.06% of Tapestry worth $8,613,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TPR. Private Advisor Group LLC lifted its position in shares of Tapestry by 18.7% in the 3rd quarter. Private Advisor Group LLC now owns 11,593 shares of the luxury accessories retailer’s stock worth $545,000 after acquiring an additional 1,828 shares during the period. State of Alaska Department of Revenue lifted its position in Tapestry by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 26,701 shares of the luxury accessories retailer’s stock worth $1,254,000 after purchasing an additional 1,815 shares during the period. abrdn plc boosted its stake in Tapestry by 4.7% during the third quarter. abrdn plc now owns 39,127 shares of the luxury accessories retailer’s stock worth $1,840,000 after buying an additional 1,756 shares in the last quarter. Van ECK Associates Corp increased its holdings in Tapestry by 7.2% in the 3rd quarter. Van ECK Associates Corp now owns 111,184 shares of the luxury accessories retailer’s stock valued at $4,841,000 after buying an additional 7,493 shares during the period. Finally, Asset Management One Co. Ltd. raised its stake in shares of Tapestry by 22.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 4,558 shares of the luxury accessories retailer’s stock valued at $214,000 after buying an additional 832 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. BMO Capital Markets raised their price target on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. raised their target price on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Barclays boosted their price target on Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Redburn Atlantic upgraded Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Tuesday, February 18th. Finally, Robert W. Baird boosted their target price on shares of Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $78.53.

Tapestry Stock Down 1.6 %

TPR opened at $84.04 on Tuesday. The stock has a market capitalization of $17.40 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.01 and a beta of 1.58. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The firm has a 50 day moving average price of $75.17 and a 200-day moving average price of $58.72.

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 period in the prior year, the company earned $1.63 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.67%. The ex-dividend date is Thursday, March 6th. Tapestry’s dividend payout ratio is presently 40.58%.

Insiders Place Their Bets

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the transaction, the chief executive officer now directly owns 201,531 shares in the company, valued at $17,652,100.29. This represents a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the transaction, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock valued at $5,730,589 over the last ninety days. 1.18% of the stock is owned by 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.