Czech National Bank Grows Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Czech National Bank increased its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,527 shares of the luxury accessories retailer's stock after acquiring an additional 3,629 shares during the period. Czech National Bank's holdings in Tapestry were worth $3,301,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Waldron Private Wealth LLC purchased a new stake in shares of Tapestry during the 3rd quarter worth approximately $25,000. Brooklyn Investment Group purchased a new position in Tapestry in the 3rd quarter valued at approximately $47,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Tapestry during the second quarter worth $68,000. Abich Financial Wealth Management LLC purchased a new stake in Tapestry during the second quarter worth $69,000. Finally, Deseret Mutual Benefit Administrators grew its holdings 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 purchasing an additional 605 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

TPR has been the subject of several research reports. Wells Fargo & Company lifted their price target on Tapestry from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. BMO Capital Markets lifted their target price 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. Guggenheim raised their price objective on shares of Tapestry from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Citigroup lifted their price objective on Tapestry from $49.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Finally, TD Cowen cut Tapestry from a "buy" rating to a "hold" rating and set a $52.00 target price on the stock. in a report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $64.76.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the company's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the sale, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.18% of the stock is currently owned by insiders.

Tapestry Trading Up 2.7 %

Shares of NYSE TPR traded up $1.85 on Friday, reaching $71.48. 5,254,401 shares of the company traded hands, compared to its average volume of 4,342,118. The stock has a market capitalization of $16.66 billion, a PE ratio of 20.66, a P/E/G ratio of 1.91 and a beta of 1.58. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $72.09. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The company has a 50 day moving average of $62.86 and a 200 day moving average of $49.86.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.96%. The ex-dividend date was Friday, December 6th. Tapestry's dividend payout ratio (DPR) is 40.46%.

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.