Vanguard Group Inc. Has $1.86 Billion Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Vanguard Group Inc. reduced its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,461,321 shares of the luxury accessories retailer's stock after selling 2,416,042 shares during the quarter. Vanguard Group Inc. owned about 12.21% of Tapestry worth $1,859,378,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Tapestry by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock valued at $522,471,000 after buying an additional 382,856 shares in the last quarter. Geode Capital Management LLC grew its position in Tapestry by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer's stock worth $262,156,000 after buying an additional 80,681 shares during the last quarter. Allianz Asset Management GmbH grew its position in Tapestry by 16.4% in the fourth quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer's stock worth $138,596,000 after buying an additional 298,409 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Tapestry by 8.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,618 shares of the luxury accessories retailer's stock valued at $66,459,000 after buying an additional 115,340 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Tapestry during the 3rd quarter worth $64,016,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In related news, CFO Scott A. Roe sold 25,727 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the completion of the transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at $12,688,570.72. This represents a 14.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares in the company, valued at $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by insiders.

Tapestry Stock Down 3.4 %

NYSE TPR traded down $2.50 during trading on Friday, hitting $70.25. 5,433,838 shares of the company traded hands, compared to its average volume of 3,993,534. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The business has a fifty day simple moving average of $77.65 and a 200 day simple moving average of $62.94. The company has a market capitalization of $14.54 billion, a P/E ratio of 20.36, a PEG ratio of 2.01 and a beta of 1.57. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (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 in the previous year, the company earned $1.63 earnings per share. As a group, sell-side analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is 40.58%.

Analysts Set New Price Targets

A number of research firms have commented on TPR. Jefferies Financial Group upped their price objective on shares of Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Redburn Atlantic upgraded shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target for the company in a research report on Tuesday, February 18th. Guggenheim raised their price objective on shares of Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. StockNews.com downgraded shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Raymond James reaffirmed 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. Six 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, Tapestry currently has an average rating of "Moderate Buy" and an average price target of $78.53.

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.