Tapestry, Inc. (NYSE:TPR) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. increased its stake in Tapestry, Inc. (NYSE:TPR) by 30.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,199 shares of the luxury accessories retailer’s stock after acquiring an additional 3,767 shares during the period. Vontobel Holding Ltd.’s holdings in Tapestry were worth $596,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TPR. FDx Advisors Inc. raised its stake in Tapestry by 34.5% in the third quarter. FDx Advisors Inc. now owns 8,735 shares of the luxury accessories retailer’s stock valued at $251,000 after buying an additional 2,240 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Tapestry by 9.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 285,989 shares of the luxury accessories retailer’s stock worth $10,527,000 after purchasing an additional 23,532 shares in the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Tapestry during the fourth quarter worth about $1,107,000. Assenagon Asset Management S.A. increased its position in shares of Tapestry by 189.5% during the third quarter. Assenagon Asset Management S.A. now owns 228,045 shares of the luxury accessories retailer’s stock worth $6,556,000 after purchasing an additional 149,268 shares in the last quarter. Finally, FCF Advisors LLC acquired a new stake in shares of Tapestry during the fourth quarter worth about $1,013,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on TPR shares. OTR Global reiterated a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Wells Fargo & Company boosted their price target on Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Telsey Advisory Group restated an “outperform” rating and issued a $54.00 price target on shares of Tapestry in a research report on Wednesday, March 27th. Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $30.00 to $50.00 in a research report on Monday, February 5th. Finally, Raymond James boosted their price target on Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.81.

Tapestry Price Performance

Shares of TPR opened at $40.31 on Tuesday. Tapestry, Inc. has a twelve month low of $25.99 and a twelve month high of $48.80. The stock’s 50 day moving average is $45.43 and its two-hundred day moving average is $37.74. The firm has a market capitalization of $9.25 billion, a PE ratio of 10.18, a P/E/G ratio of 0.83 and a beta of 1.57. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping the consensus estimate of $1.46 by $0.17. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 EPS. Research analysts anticipate that Tapestry, Inc. will post 4.25 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Thursday, March 7th. Tapestry’s dividend payout ratio (DPR) is 35.35%.

About Tapestry

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.