Handelsbanken Fonder AB Acquires 800 Shares of Tapestry, Inc. (NYSE:TPR)

Handelsbanken Fonder AB grew its position in Tapestry, Inc. (NYSE:TPR) by 1.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 60,146 shares of the luxury accessories retailer’s stock after purchasing an additional 800 shares during the period. Handelsbanken Fonder AB’s holdings in Tapestry were worth $3,929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TPR. Erste Asset Management GmbH acquired a new stake in shares of Tapestry in the 3rd quarter valued at $64,016,000. WT Asset Management Ltd acquired a new stake in shares of Tapestry in the 4th quarter valued at $42,762,000. Bank of Montreal Can increased its stake in shares of Tapestry by 76.6% in the 3rd quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer’s stock valued at $59,641,000 after buying an additional 539,793 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of 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 buying an additional 272,007 shares during the period. Finally, Westfield Capital Management Co. LP increased its stake in shares of Tapestry by 14.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after buying an additional 219,544 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tapestry

In related news, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the sale, the general counsel now directly owns 38,609 shares of the company’s stock, valued at $3,397,592. The trade was a 23.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TPR. Evercore ISI lifted their price objective on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Redburn Atlantic upgraded Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Tuesday, February 18th. Raymond James reiterated an “outperform” rating and set a $88.00 target price (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th. Telsey Advisory Group boosted their price target on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

Tapestry Stock Down 2.2 %

Shares of TPR opened at $84.60 on Monday. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. The stock has a market capitalization of $17.51 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 2.01 and a beta of 1.58. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The stock has a fifty day moving average of $72.63 and a 200-day moving average of $56.75.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 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 firm posted $1.63 EPS. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 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.