Bessemer Group Inc. Has $2.09 Million Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Bessemer Group Inc. lifted its position in shares of Tapestry, Inc. (NYSE:TPR) by 4.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,900 shares of the luxury accessories retailer’s stock after buying an additional 1,480 shares during the quarter. Bessemer Group Inc.’s holdings in Tapestry were worth $2,085,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TPR. Charles Schwab Investment Management Inc. boosted its holdings in Tapestry by 5.0% in the 4th 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 purchasing an additional 382,856 shares during the period. Geode Capital Management LLC raised its position in shares of Tapestry by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer’s stock valued at $376,247,000 after buying an additional 176,717 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Tapestry by 15.2% in the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer’s stock valued at $270,304,000 after buying an additional 546,497 shares during the period. Allianz Asset Management GmbH grew its position in Tapestry by 16.4% during 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 in the last quarter. Finally, Norges Bank bought a new position in Tapestry during the 4th quarter worth $114,199,000. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In other news, CEO Todd Kahn sold 21,107 shares of Tapestry stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the completion of the transaction, the chief executive officer now directly owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. This trade represents a 10.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel David E. Howard sold 11,917 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the sale, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock valued at $5,730,589 over the last ninety days. 1.18% of the stock is owned by company insiders.

Tapestry Stock Down 0.8 %

NYSE:TPR opened at $63.40 on Monday. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The company has a market cap of $13.13 billion, a PE ratio of 18.38, a P/E/G ratio of 2.01 and a beta of 1.37. The firm’s 50 day simple moving average is $75.82 and its 200 day simple moving average is $64.82.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 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 last year, the firm earned $1.63 EPS. On average, research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.21%. Tapestry’s dividend payout ratio (DPR) is 40.58%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. UBS Group increased their price objective on shares of Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Wells Fargo & Company boosted their target price on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Evercore ISI increased their price target on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, Barclays lowered their price objective on shares of Tapestry from $100.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.63.

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.