Tapestry, Inc. (NYSE:TPR) Stake Boosted by Vontobel Holding Ltd.

Vontobel Holding Ltd. increased its stake in Tapestry, Inc. (NYSE:TPR) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,646 shares of the luxury accessories retailer’s stock after purchasing an additional 789 shares during the period. Vontobel Holding Ltd.’s holdings in Tapestry were worth $876,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Tapestry in the 4th quarter worth about $527,000. HighPoint Advisor Group LLC acquired a new position in shares of Tapestry during the fourth quarter valued at $198,000. NBC Securities Inc. grew its position in Tapestry by 84.0% in the 1st quarter. NBC Securities Inc. now owns 1,525 shares of the luxury accessories retailer’s stock valued at $72,000 after buying an additional 696 shares in the last quarter. Park Avenue Securities LLC grew its position in Tapestry by 22.7% in the 1st quarter. Park Avenue Securities LLC now owns 9,664 shares of the luxury accessories retailer’s stock valued at $459,000 after buying an additional 1,785 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of Tapestry during the 1st quarter worth about $863,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Telsey Advisory Group restated an “outperform” rating and set a $54.00 price target on shares of Tapestry in a report on Thursday, August 15th. Evercore ISI reduced their target price on Tapestry from $53.00 to $47.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. dropped their price target on Tapestry from $54.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, August 16th. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a research note on Wednesday, September 25th. Finally, Citigroup lowered their target price on Tapestry from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.07.

Tapestry Stock Down 0.1 %

Shares of NYSE:TPR opened at $45.15 on Monday. The company has a 50 day moving average price of $42.87 and a two-hundred day moving average price of $41.81. The company has a market capitalization of $10.37 billion, a PE ratio of 11.94, a PEG ratio of 1.67 and a beta of 1.53. Tapestry, Inc. has a 52 week low of $25.99 and a 52 week high of $48.80. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the business posted $0.95 EPS. The firm’s revenue was down 1.8% compared to the same quarter last year. Analysts forecast that Tapestry, Inc. will post 4.47 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.40 annualized dividend and a yield of 3.10%. Tapestry’s payout ratio is currently 37.04%.

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.