Vontobel Holding Ltd. Sells 4,518 Shares of Tapestry, Inc. (NYSE:TPR)

Vontobel Holding Ltd. decreased its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 24.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,128 shares of the luxury accessories retailer's stock after selling 4,518 shares during the quarter. Vontobel Holding Ltd.'s holdings in Tapestry were worth $923,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Erste Asset Management GmbH bought a new position in shares of Tapestry in the 3rd quarter worth approximately $64,016,000. WT Asset Management Ltd bought a new position in Tapestry in the fourth quarter worth $42,762,000. Bank of Montreal Can lifted its position in Tapestry by 76.6% during the third quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer's stock valued at $59,641,000 after buying an additional 539,793 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tapestry by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer's stock valued at $357,732,000 after buying an additional 272,007 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of Tapestry by 14.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer's stock valued at $79,822,000 after buying an additional 219,544 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

Shares of NYSE TPR traded down $1.92 during trading on Friday, reaching $84.60. 3,583,160 shares of the company traded hands, compared to its average volume of 5,112,135. The firm has a 50 day simple moving average of $72.21 and a 200-day simple moving average of $56.14. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The stock has a market capitalization of $17.51 billion, a PE ratio of 24.52, a P/E/G ratio of 2.07 and a beta of 1.58. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

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 (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 period in the previous year, the company earned $1.63 EPS. Equities research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Raymond James reissued an "outperform" rating and set a $88.00 price target (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Robert W. Baird lifted their target price on shares of Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Evercore ISI raised their price objective on Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Finally, Telsey Advisory Group boosted their target price on Tapestry from $74.00 to $83.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.