Checchi Capital Advisers LLC Buys Shares of 4,131 Tapestry Inc (TPR)

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Checchi Capital Advisers LLC bought a new position in shares of Tapestry Inc (NYSE:TPR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,131 shares of the luxury accessories retailer’s stock, valued at approximately $208,000.

Other hedge funds have also modified their holdings of the company. LifePlan Financial Group Inc purchased a new position in shares of Tapestry during the 2nd quarter worth approximately $142,000. Twin Tree Management LP raised its stake in shares of Tapestry by 128.9% during the 2nd quarter. Twin Tree Management LP now owns 3,394 shares of the luxury accessories retailer’s stock worth $159,000 after buying an additional 15,144 shares in the last quarter. NEXT Financial Group Inc purchased a new position in shares of Tapestry during the 3rd quarter worth approximately $179,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Tapestry during the 3rd quarter worth approximately $201,000. Finally, MUFG Americas Holdings Corp raised its stake in shares of Tapestry by 70.6% during the 2nd quarter. MUFG Americas Holdings Corp now owns 4,350 shares of the luxury accessories retailer’s stock worth $203,000 after buying an additional 1,800 shares in the last quarter. 90.19% of the stock is owned by institutional investors and hedge funds.

NYSE TPR opened at $40.32 on Wednesday. Tapestry Inc has a 1-year low of $39.28 and a 1-year high of $55.50. The company has a market capitalization of $11.94 billion, a P/E ratio of 15.33, a PEG ratio of 1.27 and a beta of 0.43. The company has a quick ratio of 1.87, a current ratio of 2.59 and a debt-to-equity ratio of 0.49.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Tuesday, October 30th. The luxury accessories retailer reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. Tapestry had a return on equity of 24.76% and a net margin of 6.76%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the business posted $0.42 EPS. Tapestry’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts expect that Tapestry Inc will post 2.77 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 7th were given a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 3.35%. The ex-dividend date was Thursday, September 6th. Tapestry’s payout ratio is 51.33%.

TPR has been the subject of a number of analyst reports. ValuEngine raised Tapestry from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Bank of America increased their target price on Tapestry from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Royal Bank of Canada set a $58.00 target price on Tapestry and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Goldman Sachs Group set a $61.00 target price on Tapestry and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Tapestry in a research note on Tuesday, August 14th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $56.16.

In other Tapestry news, Director Ivan Menezes sold 2,068 shares of the firm’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $50.70, for a total transaction of $104,847.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ian Bickley sold 48,071 shares of the firm’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $52.13, for a total value of $2,505,941.23. The disclosure for this sale can be found here. Insiders have sold 50,602 shares of company stock valued at $2,633,939 in the last three months. 0.70% of the stock is currently owned by company insiders.

About Tapestry

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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