Tapestry, Inc. (NYSE:TPR) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its position in shares of Tapestry, Inc. (NYSE:TPR) by 21.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 15,913 shares of the luxury accessories retailer’s stock after acquiring an additional 2,855 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Tapestry were worth $1,040,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. GSA Capital Partners LLP acquired a new position in shares of Tapestry during the 3rd quarter worth about $237,000. Caprock Group LLC acquired a new position in Tapestry in the third quarter valued at approximately $240,000. Banque Cantonale Vaudoise purchased a new position in Tapestry in the third quarter valued at approximately $251,000. Charles Schwab Investment Management Inc. raised its holdings in Tapestry by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after purchasing an additional 272,007 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Tapestry by 179.1% during the 3rd quarter. Cerity Partners LLC now owns 116,106 shares of the luxury accessories retailer’s stock worth $5,455,000 after buying an additional 74,509 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of NYSE:TPR opened at $72.99 on Friday. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. The company has a 50-day moving average price of $77.17 and a 200 day moving average price of $61.81. The company has a market cap of $15.11 billion, a P/E ratio of 21.16, a PEG ratio of 2.01 and a beta of 1.57. 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 results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating 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 previous year, the company posted $1.63 earnings per share. Research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The business 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. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.92%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TPR shares. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Telsey Advisory Group boosted their target price on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Guggenheim raised their price target on Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Jefferies Financial Group lifted their price target on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Morgan Stanley restated an “equal weight” rating and set a $65.00 target price on shares of Tapestry in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

Insider Activity

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the sale, the chief executive officer now owns 201,531 shares of the company’s stock, valued at approximately $17,652,100.29. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of Tapestry 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 transaction, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at $12,688,570.72. This trade represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock worth $5,730,589 in the last 90 days. 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.