UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $95.39 Million Stake in Tapestry, Inc. (NYSE:TPR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 3.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,460,110 shares of the luxury accessories retailer's stock after buying an additional 45,492 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.63% of Tapestry worth $95,389,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its holdings in Tapestry by 4.8% in the 4th quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock valued at $527,799,000 after buying an additional 370,784 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tapestry by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock worth $522,471,000 after purchasing an additional 382,856 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tapestry by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock worth $376,247,000 after purchasing an additional 176,717 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Tapestry by 15.2% during the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after purchasing an additional 546,497 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Tapestry by 3.0% during the 4th quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock worth $183,909,000 after purchasing an additional 83,222 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 1,399 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $81.88, for a total transaction of $114,550.12. Following the transaction, the vice president now owns 40,922 shares in the company, valued at $3,350,693.36. This trade represents a 3.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Kahn sold 40,000 shares of Tapestry stock in a transaction on Monday, May 12th. The shares were sold at an average price of $81.40, for a total value of $3,256,000.00. Following the completion of the transaction, the chief executive officer now owns 116,062 shares in the company, valued at approximately $9,447,446.80. The trade was a 25.63% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by corporate insiders.

Tapestry Trading Down 2.4%

Shares of Tapestry stock traded down $1.95 during trading hours on Thursday, hitting $78.47. The company's stock had a trading volume of 2,785,033 shares, compared to its average volume of 5,464,359. The company has a market capitalization of $16.30 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The stock has a 50 day moving average of $71.83 and a 200 day moving average of $70.69. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.89 by $0.14. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The business's quarterly revenue was up 6.9% compared to the same quarter last year. Analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.78%. Tapestry's dividend payout ratio (DPR) is currently 36.84%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TPR. Morgan Stanley raised Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price objective on the stock in a report on Thursday, May 8th. Wells Fargo & Company reissued an "overweight" rating and set a $100.00 price objective (up previously from $90.00) on shares of Tapestry in a report on Wednesday, May 14th. Wall Street Zen raised Tapestry from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Citigroup boosted their price target on Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group boosted their price target on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $83.89.

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.