Van ECK Associates Corp Has $7.69 Million Position in Tapestry, Inc. (NYSE:TPR)

Van ECK Associates Corp increased its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,652 shares of the luxury accessories retailer's stock after acquiring an additional 6,468 shares during the period. Van ECK Associates Corp owned approximately 0.05% of Tapestry worth $7,686,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TPR. Essex Financial Services Inc. acquired a new position in Tapestry during the 4th quarter worth $213,000. Coronation Fund Managers Ltd. raised its stake in shares of Tapestry by 4.5% during the fourth quarter. Coronation Fund Managers Ltd. now owns 673,233 shares of the luxury accessories retailer's stock valued at $43,982,000 after purchasing an additional 29,091 shares in the last quarter. Martin Capital Advisors LLP acquired a new stake in Tapestry in the fourth quarter worth about $213,000. Newbridge Financial Services Group Inc. bought a new position in Tapestry in the 4th quarter valued at about $121,000. Finally, Entropy Technologies LP bought a new stake in shares of Tapestry during the 4th quarter worth about $2,461,000. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Down 2.2 %

Shares of TPR stock traded down $1.92 on Friday, reaching $84.60. 3,583,160 shares of the company's stock traded hands, compared to its average volume of 5,112,137. The business's 50 day moving average price is $72.63 and its two-hundred day moving average price is $56.48. The company has a market capitalization of $17.51 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. 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 issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share 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 business posted $1.63 EPS. On average, equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, March 6th. Tapestry's dividend payout ratio is currently 40.58%.

Analysts Set New Price Targets

TPR has been the topic of a number of research analyst reports. Raymond James reiterated an "outperform" rating and set a $88.00 price objective (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Robert W. Baird increased their price target on Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday. Evercore ISI boosted their price objective on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their price objective on Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Finally, TD Cowen lowered Tapestry from a "buy" rating to a "hold" rating and set a $52.00 target price on the stock. in a report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $78.53.

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.