Tapestry, Inc. (NYSE:TPR) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Tapestry, Inc. (NYSE:TPR) by 14.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 309,119 shares of the luxury accessories retailer’s stock after purchasing an additional 39,298 shares during the period. Principal Financial Group Inc.’s holdings in Tapestry were worth $20,195,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TPR. Brooklyn Investment Group acquired a new stake in shares of Tapestry in the third quarter valued at about $47,000. UMB Bank n.a. boosted its holdings in Tapestry by 72.9% in the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after acquiring an additional 496 shares during the period. Deseret Mutual Benefit Administrators grew its position in Tapestry by 68.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after acquiring an additional 605 shares in the last quarter. Transamerica Financial Advisors Inc. raised its stake 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 valued at $75,000 after purchasing an additional 1,591 shares during the period. Finally, Principal Securities Inc. lifted its position in shares of Tapestry by 45.7% during the fourth quarter. Principal Securities Inc. now owns 1,633 shares of the luxury accessories retailer’s stock worth $107,000 after purchasing an additional 512 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TPR shares. Robert W. Baird lifted their price target on shares of Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Raymond James reiterated an “outperform” rating and issued a $88.00 price target (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Daiwa America raised Tapestry to a “hold” rating in a research report on Monday, November 18th. Finally, 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 report on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

Tapestry Stock Performance

Shares of TPR stock opened at $84.29 on Tuesday. The company has a market cap of $17.45 billion, a P/E ratio of 24.43, a PEG ratio of 2.01 and a beta of 1.58. The business has a 50 day moving average of $73.04 and a two-hundred day moving average of $57.08. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week 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.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) 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 quarter last year, the company posted $1.63 earnings per share. As a group, analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.66%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Insider Activity at Tapestry

In other news, 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 completion of the transaction, the chief financial officer now owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Todd Kahn sold 7,786 shares of Tapestry 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 sale, the chief executive officer now owns 201,531 shares in the company, valued at approximately $17,652,100.29. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,430 shares of company stock worth $3,957,601 in the last ninety days. 1.18% of the stock is owned by insiders.

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.