Coronation Fund Managers Ltd. Raises Position in Tapestry, Inc. (NYSE:TPR)

Coronation Fund Managers Ltd. lifted its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 673,233 shares of the luxury accessories retailer's stock after buying an additional 29,091 shares during the period. Tapestry makes up approximately 2.6% of Coronation Fund Managers Ltd.'s investment portfolio, making the stock its 14th biggest position. Coronation Fund Managers Ltd. owned about 0.29% of Tapestry worth $43,982,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TPR. Robeco Institutional Asset Management B.V. boosted its position in shares of Tapestry by 0.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer's stock worth $1,261,000 after acquiring an additional 170 shares in the last quarter. Valley National Advisers Inc. lifted its stake in Tapestry by 0.5% during the fourth quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer's stock worth $2,831,000 after purchasing an additional 202 shares during the last quarter. Redwood Investment Management LLC boosted its holdings in shares of Tapestry by 0.4% in the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer's stock valued at $2,269,000 after purchasing an additional 204 shares in the last quarter. IRON Financial LLC increased its stake in shares of Tapestry by 4.5% in the 4th quarter. IRON Financial LLC now owns 4,882 shares of the luxury accessories retailer's stock valued at $319,000 after purchasing an additional 208 shares during the last quarter. Finally, Lebenthal Global Advisors LLC raised its holdings in shares of Tapestry by 2.8% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer's stock worth $367,000 after buying an additional 215 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Trading Up 1.7 %

Shares of TPR stock traded up $1.48 on Thursday, hitting $86.61. The company had a trading volume of 5,033,353 shares, compared to its average volume of 5,223,166. The stock's 50-day moving average is $69.60 and its two-hundred day moving average is $54.46. The company has a debt-to-equity ratio of 1.78, a quick ratio of 4.38 and a current ratio of 1.58. The firm has a market cap of $20.18 billion, a P/E ratio of 25.10, a P/E/G ratio of 2.30 and a beta of 1.58. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $87.87.

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, 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 last year, the business posted $1.63 earnings per share. On average, equities research analysts anticipate that Tapestry, Inc. will post 4.7 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.62%. The ex-dividend date is Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is presently 40.58%.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the sale, the vice president now directly owns 35,003 shares of the company's stock, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.18% of the company's stock.

Wall Street Analyst Weigh In

TPR has been the topic of several research analyst reports. Citigroup raised their price objective on Tapestry from $49.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Wells Fargo & Company raised their price target 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. Bank of America lifted their price target on shares of Tapestry from $52.00 to $60.00 and gave the company a "buy" rating in a report on Friday, October 25th. Daiwa America raised shares of Tapestry to a "hold" rating in a research note on Monday, November 18th. Finally, Raymond James restated an "outperform" rating and issued a $88.00 target price (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $74.78.

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.