Swiss National Bank Has $29.91 Million Stake in Tapestry, Inc. (NYSE:TPR)

Swiss National Bank grew its holdings in Tapestry, Inc. (NYSE:TPR) by 2.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 457,800 shares of the luxury accessories retailer’s stock after purchasing an additional 9,200 shares during the period. Swiss National Bank’s holdings in Tapestry were worth $29,908,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Truvestments Capital LLC lifted its stake in Tapestry by 13.5% in the 4th quarter. Truvestments Capital LLC now owns 26,504 shares of the luxury accessories retailer’s stock worth $1,731,000 after acquiring an additional 3,159 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Tapestry by 371.3% in the 4th quarter. Farther Finance Advisors LLC now owns 7,268 shares of the luxury accessories retailer’s stock valued at $475,000 after purchasing an additional 5,726 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Tapestry by 4.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 13,192 shares of the luxury accessories retailer’s stock worth $862,000 after purchasing an additional 620 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Tapestry by 0.9% during the fourth quarter. HighTower Advisors LLC now owns 51,278 shares of the luxury accessories retailer’s stock worth $3,350,000 after purchasing an additional 481 shares during the period. Finally, Pzena Investment Management LLC purchased a new position in Tapestry during the fourth quarter valued at approximately $18,737,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of TPR stock opened at $71.15 on Tuesday. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The firm’s 50 day moving average is $76.80 and its 200-day moving average is $61.07. The firm has a market capitalization of $14.73 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR) last posted 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 quarter in the prior year, the business posted $1.63 EPS. Sell-side analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm 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. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.97%. Tapestry’s dividend payout ratio is currently 40.58%.

Analysts Set New Price Targets

TPR has been the topic of several research analyst reports. Telsey Advisory Group boosted their price target on shares of Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Evercore ISI raised their price target on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Jefferies Financial Group increased their price objective on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. UBS Group upped their price objective on shares of Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, Guggenheim raised their target price on Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. Six investment 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $78.53.

Insiders Place Their Bets

In related news, CEO Todd Kahn sold 21,107 shares of Tapestry stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David E. Howard sold 11,917 shares of the 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 completion of the transaction, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,537 shares of company stock valued at $5,730,589. Company insiders own 1.18% of the company’s stock.

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.