Corient Private Wealth LLC Has $2.54 Million Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Corient Private Wealth LLC raised its holdings in Tapestry, Inc. (NYSE:TPR) by 43.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,893 shares of the luxury accessories retailer’s stock after buying an additional 11,754 shares during the quarter. Corient Private Wealth LLC’s holdings in Tapestry were worth $2,541,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC grew its stake in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after acquiring an additional 252 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Tapestry in the 3rd quarter worth $47,000. Transamerica Financial Advisors Inc. increased its holdings in shares of Tapestry by 159,100.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after purchasing an additional 1,591 shares during the period. UMB Bank n.a. raised 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 buying an additional 496 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of Tapestry in the third quarter valued at about $83,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TPR. UBS Group boosted their price target on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Wells Fargo & Company upped their target price on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group raised their target price on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Evercore ISI boosted their price target on shares of Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $78.53.

Insider Activity at Tapestry

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

Tapestry Price Performance

Shares of TPR stock opened at $72.99 on Monday. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. The stock has a market capitalization of $15.11 billion, a PE ratio of 21.16, a PEG ratio of 2.01 and a beta of 1.57. 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 fifty day moving average is $77.17 and its 200-day moving average is $61.96.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating 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 period in the previous year, the firm posted $1.63 earnings per share. Equities research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 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.