Daiwa Securities Group Inc. Has $818,000 Position in Tapestry, Inc. (NYSE:TPR)

Daiwa Securities Group Inc. increased its stake in Tapestry, Inc. (NYSE:TPR) by 17.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,515 shares of the luxury accessories retailer’s stock after purchasing an additional 1,896 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Tapestry were worth $818,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TPR. Venturi Wealth Management LLC lifted its holdings in Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after purchasing an additional 252 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Tapestry during the third quarter worth approximately $47,000. Transamerica Financial Advisors Inc. lifted its holdings 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 worth $75,000 after buying an additional 1,591 shares during the last quarter. UMB Bank n.a. lifted its holdings 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 worth $77,000 after buying an additional 496 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of Tapestry during the third quarter worth approximately $83,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Performance

Shares of NYSE:TPR opened at $70.48 on Friday. The business’s fifty day moving average price is $76.73 and its two-hundred day moving average price is $60.72. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The stock has a market capitalization of $14.59 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates 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 business earned $1.63 EPS. As a group, analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

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 issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, March 6th. Tapestry’s payout ratio is presently 40.58%.

Insider Transactions at Tapestry

In other news, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the sale, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott A. Roe sold 25,727 shares of the 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 sale, the chief financial officer now owns 146,587 shares in the company, valued at $12,688,570.72. The trade was a 14.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,537 shares of company stock worth $5,730,589. Insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on TPR shares. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wells Fargo & Company upped their price target on Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley reiterated an “equal weight” rating and set a $65.00 price target on shares of Tapestry in a report on Tuesday, January 21st. BMO Capital Markets upped their price target on Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, November 18th. Finally, Raymond James restated an “outperform” rating and issued a $88.00 target price (up from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.53.

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.