Wellington Management Group LLP Has $10.37 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Wellington Management Group LLP lessened its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 158,687 shares of the luxury accessories retailer's stock after selling 21,213 shares during the quarter. Wellington Management Group LLP owned 0.07% of Tapestry worth $10,367,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TPR. O Shaughnessy Asset Management LLC lifted its holdings in shares of Tapestry by 14.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 51,247 shares of the luxury accessories retailer's stock worth $3,348,000 after buying an additional 6,561 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Tapestry by 86.4% during the fourth quarter. Schroder Investment Management Group now owns 177,092 shares of the luxury accessories retailer's stock worth $11,656,000 after buying an additional 82,083 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Tapestry by 1,792.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock worth $78,000 after purchasing an additional 1,129 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Tapestry by 767.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 464,478 shares of the luxury accessories retailer's stock worth $30,344,000 after acquiring an additional 410,918 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Tapestry by 17.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 5,029 shares of the luxury accessories retailer's stock worth $329,000 after purchasing an additional 754 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

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Insider Buying and Selling

In related news, General Counsel David E. Howard sold 11,917 shares of the business'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 sale, the general counsel now owns 38,609 shares in the company, valued at $3,397,592. The trade was a 23.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Todd Kahn sold 21,107 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total value of $1,772,988.00. Following the completion of the sale, the chief executive officer now owns 176,985 shares of the company's stock, valued at $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock valued at $5,730,589 over the last 90 days. 1.18% of the stock is owned by corporate insiders.

Tapestry Stock Performance

Shares of TPR stock traded up $0.24 during trading on Tuesday, reaching $64.02. 626,696 shares of the company's stock were exchanged, compared to its average volume of 4,161,226. The firm's fifty day moving average price is $75.62 and its 200-day moving average price is $64.93. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The stock has a market capitalization of $13.25 billion, a PE ratio of 18.55, a PEG ratio of 2.01 and a beta of 1.37. 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 posted 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 net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the previous year, the firm posted $1.63 earnings per share. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were given a $0.35 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.19%. Tapestry's payout ratio is presently 40.58%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TPR. Morgan Stanley reissued an "equal weight" rating and set a $65.00 price target on shares of Tapestry in a research report on Tuesday, January 21st. Guggenheim increased their price target on Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Jefferies Financial Group lifted their price objective on Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Evercore ISI increased their target price on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company lifted 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. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Tapestry currently has a consensus rating of "Moderate Buy" and an average price target of $77.63.

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.