FIL Ltd Makes New $3.82 Million Investment in Tapestry, Inc. (NYSE:TPR)

FIL Ltd bought a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 58,470 shares of the luxury accessories retailer's stock, valued at approximately $3,820,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in Tapestry by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock valued at $522,471,000 after buying an additional 382,856 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Tapestry by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock valued at $376,247,000 after acquiring an additional 176,717 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Tapestry by 15.2% in the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after purchasing an additional 546,497 shares during the period. Allianz Asset Management GmbH grew its position in Tapestry by 16.4% during the 4th quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer's stock worth $138,596,000 after purchasing an additional 298,409 shares in the last quarter. Finally, Norges Bank acquired a new stake in Tapestry during the 4th quarter valued at $114,199,000. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Performance

TPR stock traded up $0.66 during midday trading on Friday, hitting $63.53. 4,165,660 shares of the company traded hands, compared to its average volume of 4,172,814. The business has a 50 day simple moving average of $74.60 and a 200-day simple moving average of $65.02. 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, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The stock has a market capitalization of $13.15 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results 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 net margin of 11.74% and a return on equity of 44.00%. During the same period in the prior year, the firm posted $1.63 EPS. As a group, equities research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 2.20%. Tapestry's payout ratio is 40.58%.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 21,107 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total value of $1,772,988.00. Following the sale, the chief executive officer now directly owns 176,985 shares in the company, valued at $14,866,740. This trade represents a 10.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the transaction, the chief financial officer now owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock valued at $5,730,589 in the last 90 days. 1.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TPR. Raymond James reiterated an "outperform" rating and set a $88.00 price target (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th. UBS Group lifted their target price on Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Citigroup reduced their price target on shares of Tapestry from $95.00 to $81.00 and set a "buy" rating for the company in a research report on Thursday. Guggenheim boosted their price objective on shares of Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group increased their target price on shares of Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.00.

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.