Tapestry, Inc. (NYSE:TPR) Stake Lifted by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,146 shares of the luxury accessories retailer’s stock after buying an additional 800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Tapestry were worth $3,929,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its stake in Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after buying an additional 252 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Tapestry in the third quarter worth $47,000. UMB Bank n.a. grew its stake in shares of Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after purchasing an additional 496 shares in the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of Tapestry by 68.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after purchasing an additional 605 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. grew its stake in shares of Tapestry by 159,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after purchasing an additional 1,591 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TPR shares. BMO Capital Markets increased their price target on Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, November 18th. Telsey Advisory Group increased their price target on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Morgan Stanley reissued an “equal weight” rating and issued a $65.00 price target on shares of Tapestry in a research note on Tuesday, January 21st. Daiwa America raised Tapestry to a “hold” rating in a research note on Monday, November 18th. Finally, Guggenheim upped their price objective on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.53.

Tapestry Trading Down 2.2 %

Shares of NYSE TPR opened at $84.60 on Monday. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company has a market cap of $17.51 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 2.01 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. The business has a fifty day simple moving average of $72.63 and a 200-day simple moving average of $56.75.

Tapestry (NYSE:TPR) last announced its quarterly earnings data 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 return on equity of 44.00% and a net margin of 11.74%. During the same period in the prior year, the company posted $1.63 earnings per share. Sell-side analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

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

Insider Activity

In other news, General Counsel David E. Howard sold 11,917 shares of the stock in a transaction dated 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 transaction, the general counsel now owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This represents a 23.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.18% of the stock is currently owned by insiders.

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.