Geode Capital Management LLC Increases Stock Position in Tapestry, Inc. (NYSE:TPR)

Geode Capital Management LLC increased its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,765,596 shares of the luxury accessories retailer's stock after acquiring an additional 176,717 shares during the quarter. Geode Capital Management LLC owned about 2.47% of Tapestry worth $376,247,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. HighPoint Advisor Group LLC boosted its holdings in shares of Tapestry by 12.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,691 shares of the luxury accessories retailer's stock worth $372,000 after buying an additional 646 shares during the period. Franklin Resources Inc. grew its stake in shares of Tapestry by 16.5% in the fourth quarter. Franklin Resources Inc. now owns 190,247 shares of the luxury accessories retailer's stock valued at $12,429,000 after acquiring an additional 27,013 shares in the last quarter. Alliancebernstein L.P. increased its position in Tapestry by 15.2% during the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after acquiring an additional 546,497 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Tapestry by 14.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 51,247 shares of the luxury accessories retailer's stock worth $3,348,000 after purchasing an additional 6,561 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Tapestry by 86.4% during the 4th quarter. Schroder Investment Management Group now owns 177,092 shares of the luxury accessories retailer's stock worth $11,656,000 after purchasing an additional 82,083 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TPR shares. Jefferies Financial Group boosted their price target on Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Raymond James reiterated an "outperform" rating and issued a $88.00 price target (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Barclays reduced their price objective on Tapestry from $100.00 to $83.00 and set an "overweight" rating on the stock in a research note on Thursday. UBS Group boosted their target price on Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Tapestry presently has an average rating of "Moderate Buy" and a consensus target price of $77.63.

Tapestry Stock Down 6.2 %

Shares of TPR traded down $4.20 during trading hours on Thursday, reaching $63.08. 1,581,732 shares of the stock traded hands, compared to its average volume of 5,919,141. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The stock has a fifty day simple moving average of $76.20 and a 200 day simple moving average of $64.44. The company has a market cap of $13.06 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.01 and a beta of 1.37.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data 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 period in the prior year, the firm posted $1.63 earnings per share. On average, equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.22%. Tapestry's dividend payout ratio (DPR) is presently 40.58%.

Insider Activity

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the sale, the chief executive officer now owns 201,531 shares in the company, valued at approximately $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now directly owns 38,609 shares of the company's stock, valued at approximately $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is currently owned by insiders.

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.