Tapestry, Inc. (NYSE:TPR) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in Tapestry, Inc. (NYSE:TPR) by 5.8% 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 117,652 shares of the luxury accessories retailer’s stock after acquiring an additional 6,468 shares during the period. Van ECK Associates Corp owned approximately 0.05% of Tapestry worth $7,686,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TPR. Vontobel Holding Ltd. increased its holdings in Tapestry by 4.4% in the third quarter. Vontobel Holding Ltd. now owns 18,646 shares of the luxury accessories retailer’s stock valued at $876,000 after buying an additional 789 shares during the last quarter. Bleakley Financial Group LLC purchased a new position in Tapestry in the third quarter valued at $220,000. V Square Quantitative Management LLC increased its holdings in Tapestry by 6.2% in the third quarter. V Square Quantitative Management LLC now owns 6,142 shares of the luxury accessories retailer’s stock valued at $289,000 after buying an additional 357 shares during the last quarter. Claro Advisors LLC purchased a new position in Tapestry in the third quarter valued at $194,000. Finally, Stratos Wealth Advisors LLC increased its holdings in Tapestry by 13.5% in the third quarter. Stratos Wealth Advisors LLC now owns 37,887 shares of the luxury accessories retailer’s stock valued at $1,780,000 after buying an additional 4,505 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Price Performance

Shares of NYSE:TPR opened at $87.68 on Tuesday. The company has a quick ratio of 4.38, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The company has a market cap of $20.43 billion, a P/E ratio of 25.41, a PEG ratio of 2.30 and a beta of 1.58. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $88.07. The company has a 50-day moving average price of $70.61 and a 200 day moving average price of $55.34.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating 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 period in the prior year, the company earned $1.63 earnings per share. Research analysts predict that Tapestry, Inc. will post 4.7 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.60%. Tapestry’s payout ratio is 40.58%.

Wall Street Analyst Weigh In

TPR has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a report on Saturday. Evercore ISI raised their price objective on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Daiwa America raised Tapestry to a “hold” rating in a report on Monday, November 18th. Finally, Robert W. Baird raised their price objective on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $74.78.

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.