Swiss National Bank Acquires 9,200 Shares of Tapestry, Inc. (NYSE:TPR)

Swiss National Bank raised its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 457,800 shares of the luxury accessories retailer's stock after buying an additional 9,200 shares during the period. Swiss National Bank owned about 0.20% of Tapestry worth $29,908,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Truvestments Capital LLC grew its position in Tapestry by 13.5% in the fourth quarter. Truvestments Capital LLC now owns 26,504 shares of the luxury accessories retailer's stock worth $1,731,000 after acquiring an additional 3,159 shares in the last quarter. Farther Finance Advisors LLC increased its position in Tapestry by 371.3% during the fourth quarter. Farther Finance Advisors LLC now owns 7,268 shares of the luxury accessories retailer's stock worth $475,000 after buying an additional 5,726 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Tapestry by 4.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 13,192 shares of the luxury accessories retailer's stock valued at $862,000 after buying an additional 620 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Tapestry by 0.9% in the fourth quarter. HighTower Advisors LLC now owns 51,278 shares of the luxury accessories retailer's stock worth $3,350,000 after buying an additional 481 shares during the last quarter. Finally, Pzena Investment Management LLC bought a new stake in shares of Tapestry during the 4th quarter worth about $18,737,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

TPR has been the topic of a number of research analyst reports. Evercore ISI raised their target price on shares of Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Barclays raised their price target on shares of Tapestry from $87.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. UBS Group upped their price objective on shares of Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. The Goldman Sachs Group lifted their target price on Tapestry from $72.00 to $98.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group raised their price objective on Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $78.53.

Tapestry Price Performance

Tapestry stock traded up $0.08 during trading hours on Friday, hitting $72.99. 24,256,304 shares of the stock were exchanged, compared to its average volume of 3,820,071. The stock has a market capitalization of $15.11 billion, a P/E ratio of 21.16, a P/E/G ratio of 2.01 and a beta of 1.57. The business's 50-day moving average is $77.05 and its two-hundred day moving average is $61.45. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping 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 last year, the firm posted $1.63 EPS. Equities research analysts expect 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 dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.92%. Tapestry's dividend payout ratio (DPR) is 40.58%.

Insiders Place Their Bets

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $87.59, for a total transaction of $681,975.74. Following the transaction, the chief executive officer now owns 201,531 shares of the company's stock, valued at approximately $17,652,100.29. This represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders have sold a total of 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.

About Tapestry

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.