Capital Research Global Investors Has $168.41 Million Position in Tapestry, Inc. (NYSE:TPR)

Capital Research Global Investors decreased its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 46.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,577,861 shares of the luxury accessories retailer's stock after selling 2,233,470 shares during the period. Capital Research Global Investors owned 1.11% of Tapestry worth $168,412,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TPR. Venturi Wealth Management LLC raised its position in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after purchasing an additional 252 shares during the period. Canada Post Corp Registered Pension Plan acquired a new position in Tapestry in the 4th quarter valued at $48,000. UMB Bank n.a. raised its holdings in Tapestry by 72.9% in the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock worth $77,000 after acquiring an additional 496 shares during the period. Brown Brothers Harriman & Co. lifted its position in Tapestry by 1,792.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock worth $78,000 after acquiring an additional 1,129 shares during the last quarter. Finally, Atlas Capital Advisors Inc. boosted its holdings in Tapestry by 527.2% during the fourth quarter. Atlas Capital Advisors Inc. now owns 1,267 shares of the luxury accessories retailer's stock valued at $83,000 after acquiring an additional 1,065 shares during the period. 90.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Todd Kahn sold 21,107 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the completion of the transaction, the chief executive officer now directly owns 176,985 shares in the company, valued at approximately $14,866,740. The trade was a 10.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction dated 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 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. In the last 90 days, insiders sold 66,537 shares of company stock valued at $5,730,589. Company insiders own 1.18% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on TPR shares. Barclays lowered their target price on Tapestry from $100.00 to $83.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Guggenheim boosted their target price on shares of Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Evercore ISI upped 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. Raymond James restated an "outperform" rating and issued a $88.00 price target (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Finally, UBS Group increased their target price on shares of Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $78.26.

Tapestry Price Performance

TPR traded up $1.67 during trading on Wednesday, hitting $66.59. The company's stock had a trading volume of 4,815,973 shares, compared to its average volume of 4,180,833. The firm's 50 day moving average price is $72.95 and its two-hundred day moving average price is $65.53. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $13.78 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. 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 quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 earned $1.63 EPS. Sell-side analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were paid a $0.35 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.10%. Tapestry's payout ratio is presently 40.58%.

Tapestry 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.