37,670 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by Entropy Technologies LP

Entropy Technologies LP purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 37,670 shares of the luxury accessories retailer’s stock, valued at approximately $2,461,000.

Several other institutional investors have also recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. increased its stake in shares of Tapestry by 0.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock valued at $1,261,000 after buying an additional 170 shares in the last quarter. Valley National Advisers Inc. grew its holdings in Tapestry by 0.5% during the 4th quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer’s stock worth $2,831,000 after acquiring an additional 202 shares during the last quarter. Redwood Investment Management LLC increased its position in Tapestry by 0.4% in the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock valued at $2,269,000 after acquiring an additional 204 shares in the last quarter. IRON Financial LLC raised its stake in shares of Tapestry by 4.5% in the fourth quarter. IRON Financial LLC now owns 4,882 shares of the luxury accessories retailer’s stock worth $319,000 after acquiring an additional 208 shares during the last quarter. Finally, Lebenthal Global Advisors LLC lifted its position in shares of Tapestry by 2.8% during the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 2.3 %

TPR opened at $80.28 on Monday. The firm’s fifty day moving average is $68.08 and its two-hundred day moving average is $53.45. The firm has a market cap of $18.71 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 2.30 and a beta of 1.58. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $87.87. The company has a debt-to-equity ratio of 1.78, a quick ratio of 4.38 and a current ratio of 1.58.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping 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 quarter in the prior year, the firm posted $1.63 EPS. Equities research analysts anticipate that Tapestry, Inc. will post 4.7 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be given a $0.35 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.74%. Tapestry’s dividend payout ratio is presently 40.58%.

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on TPR shares. Morgan Stanley reissued an “equal weight” rating and issued a $65.00 price target on shares of Tapestry in a report on Tuesday, January 21st. BMO Capital Markets lifted their target price on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. Raymond James reaffirmed an “outperform” rating and set a $88.00 price target (up previously from $79.00) on shares of Tapestry in a research note on Friday. Wells Fargo & Company lifted their price objective on Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Guggenheim upped their target price on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.17.

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.