Schroder Investment Management Group Has $11.66 Million Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Schroder Investment Management Group boosted its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 86.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 177,092 shares of the luxury accessories retailer's stock after buying an additional 82,083 shares during the quarter. Schroder Investment Management Group owned approximately 0.08% of Tapestry worth $11,656,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Apollon Wealth Management LLC acquired a new position in shares of Tapestry during the fourth quarter valued at $328,000. Charles Schwab Investment Management Inc. raised its holdings in Tapestry by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock worth $522,471,000 after purchasing an additional 382,856 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in Tapestry during the 4th quarter valued at about $3,437,000. Principal Financial Group Inc. boosted its stake in shares of Tapestry by 14.6% in the 4th quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer's stock valued at $20,195,000 after purchasing an additional 39,298 shares during the last quarter. Finally, Pzena Investment Management LLC acquired a new stake in shares of Tapestry during the 4th quarter worth approximately $18,737,000. 90.77% of the stock is currently owned by institutional investors.

Insider Activity

In other news, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was 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 directly owns 38,609 shares of the company's stock, valued at $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the transaction, the chief financial officer now owns 146,587 shares of the company's stock, valued at $12,688,570.72. This represents a 14.93 % 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 valued at $5,730,589. 1.18% of the stock is owned by insiders.

Remove Ads

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley reaffirmed an "equal weight" rating and issued a $65.00 price objective on shares of Tapestry in a research note on Tuesday, January 21st. Evercore ISI raised their price target on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Guggenheim lifted their price objective on Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Wells Fargo & Company increased their target price on Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Raymond James restated an "outperform" rating and set a $88.00 target price (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $78.53.

Tapestry Stock Down 4.1 %

Shares of Tapestry stock traded down $2.56 during trading on Tuesday, reaching $60.43. The stock had a trading volume of 10,731,775 shares, compared to its average volume of 4,114,474. 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 company has a market capitalization of $12.51 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 2.01 and a beta of 1.37. The stock has a fifty day moving average price of $76.48 and a two-hundred day moving average price of $64.26. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85.

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 quarter in the previous year, the business earned $1.63 earnings per share. Sell-side analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Thursday, March 6th. Tapestry's dividend payout ratio is currently 40.58%.

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.