Atlas Capital Advisors LLC Buys Shares of 1,460 Tapestry, Inc. (NYSE:TPR)

Atlas Capital Advisors LLC bought a new stake in Tapestry, Inc. (NYSE:TPR) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,460 shares of the luxury accessories retailer’s stock, valued at approximately $69,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC purchased a new position in shares of Tapestry during the 1st quarter worth approximately $253,000. Global Assets Advisory LLC purchased a new position in shares of Tapestry during the 1st quarter worth approximately $863,000. FCF Advisors LLC increased its stake in shares of Tapestry by 8.7% during the 1st quarter. FCF Advisors LLC now owns 29,909 shares of the luxury accessories retailer’s stock worth $1,420,000 after purchasing an additional 2,395 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Tapestry by 22.7% during the 1st quarter. Park Avenue Securities LLC now owns 9,664 shares of the luxury accessories retailer’s stock worth $459,000 after purchasing an additional 1,785 shares in the last quarter. Finally, Alaska Permanent Fund Corp increased its stake in shares of Tapestry by 258.4% during the 1st quarter. Alaska Permanent Fund Corp now owns 42,884 shares of the luxury accessories retailer’s stock worth $2,036,000 after purchasing an additional 30,918 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Manesh Dadlani sold 2,500 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $42.23, for a total value of $105,575.00. Following the transaction, the vice president now owns 37,173 shares of the company’s stock, valued at approximately $1,569,815.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.93% of the company’s stock.

Tapestry Stock Down 0.4 %

Shares of TPR opened at $41.69 on Thursday. The firm has a market cap of $9.58 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.91 and a beta of 1.60. The company’s fifty day moving average is $41.47 and its two-hundred day moving average is $41.68. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80. The company has a quick ratio of 5.98, a current ratio of 6.59 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.14. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business earned $0.78 EPS. Tapestry’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts forecast that Tapestry, Inc. will post 4.22 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date was Friday, June 7th. Tapestry’s dividend payout ratio is presently 37.04%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TPR. Robert W. Baird dropped their price objective on shares of Tapestry from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Telsey Advisory Group reissued an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a research note on Thursday, May 9th. Argus restated a “buy” rating and set a $52.00 target price on shares of Tapestry in a research report on Tuesday, June 18th. Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Thursday, February 29th. Finally, Bernstein Bank raised their target price on shares of Tapestry from $46.00 to $48.00 in a research report on Thursday, May 9th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.53.

Tapestry Company 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.