Tapestry, Inc. (NYSE:TPR) Shares Purchased by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. raised its holdings in Tapestry, Inc. (NYSE:TPR) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 673,233 shares of the luxury accessories retailer’s stock after purchasing an additional 29,091 shares during the quarter. Tapestry comprises approximately 2.6% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 14th largest holding. Coronation Fund Managers Ltd.’s holdings in Tapestry were worth $43,982,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Erste Asset Management GmbH acquired a new stake in shares of Tapestry in the 3rd quarter worth $64,016,000. WT Asset Management Ltd purchased a new position in Tapestry during the fourth quarter worth about $42,762,000. Bank of Montreal Can lifted its position in Tapestry by 76.6% in the third quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer’s stock valued at $59,641,000 after purchasing an additional 539,793 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Tapestry by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock valued at $357,732,000 after purchasing an additional 272,007 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its position in Tapestry by 14.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after purchasing an additional 219,544 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the sale, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Raymond James reissued an “outperform” rating and issued a $88.00 price target (up from $79.00) on shares of Tapestry in a report on Friday. Evercore ISI raised their target price on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 price target on shares of Tapestry in a research note on Tuesday, January 21st. The Goldman Sachs Group raised their price objective on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their target price on shares of Tapestry from $66.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.17.

Tapestry Stock Down 2.3 %

Shares of NYSE:TPR opened at $80.28 on Monday. 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 capitalization of $18.71 billion, a P/E ratio of 23.27, a P/E/G 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 $87.87. The stock’s fifty day simple moving average is $68.08 and its 200-day simple moving average is $53.45.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating the consensus estimate 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 business posted $1.63 earnings per share. As a group, equities research analysts forecast that Tapestry, Inc. will post 4.7 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors 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 yield of 1.74%. Tapestry’s dividend payout ratio (DPR) is currently 40.58%.

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.