GAM Holding AG Makes New Investment in Tapestry, Inc. (NYSE:TPR)

GAM Holding AG purchased a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 160,900 shares of the luxury accessories retailer's stock, valued at approximately $10,512,000. GAM Holding AG owned about 0.07% of Tapestry at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC increased its holdings in Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after purchasing an additional 252 shares during the period. CIBC Asset Management Inc grew its position in shares of Tapestry by 3.2% in the 4th quarter. CIBC Asset Management Inc now owns 33,374 shares of the luxury accessories retailer's stock valued at $2,180,000 after buying an additional 1,049 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Tapestry by 1.5% in the fourth quarter. Sanctuary Advisors LLC now owns 41,464 shares of the luxury accessories retailer's stock valued at $2,709,000 after buying an additional 625 shares during the period. Principal Financial Group Inc. raised its position in shares of Tapestry by 14.6% during the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer's stock worth $20,195,000 after acquiring an additional 39,298 shares during the last quarter. Finally, Capital Performance Advisors LLP lifted its stake in shares of Tapestry by 28.3% in the fourth quarter. Capital Performance Advisors LLP now owns 6,621 shares of the luxury accessories retailer's stock worth $433,000 after acquiring an additional 1,461 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Down 2.2 %

Shares of NYSE:TPR traded down $1.92 during midday trading on Friday, hitting $84.60. 3,583,160 shares of the company's stock were exchanged, compared to its average volume of 5,112,137. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company has a market cap of $17.51 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. The stock has a 50 day moving average price of $72.63 and a 200-day moving average price of $56.48.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results 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 in the prior year, the company posted $1.63 earnings per share. On average, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared 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. This represents a $1.40 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Thursday, March 6th. Tapestry's payout ratio is currently 40.58%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TPR shares. Evercore ISI increased their target price on shares of Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Wells Fargo & Company upped their price objective on shares of Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Morgan Stanley reissued an "equal weight" rating and set a $65.00 target price on shares of Tapestry in a research note on Tuesday, January 21st. Citigroup boosted their target price on shares of Tapestry from $49.00 to $55.00 and gave the company a "buy" rating in a report on Friday, October 25th. Finally, StockNews.com downgraded Tapestry from a "buy" rating to a "hold" rating in a report on Saturday, February 15th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $78.53.

Insider Buying and Selling at Tapestry

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.18% of the company's stock.

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.