UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in Tapestry, Inc. (NYSE:TPR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,460,110 shares of the luxury accessories retailer's stock after purchasing an additional 45,492 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.63% of Tapestry worth $95,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPR. Apollon Wealth Management LLC acquired a new position in shares of Tapestry during the fourth quarter worth approximately $328,000. Charles Schwab Investment Management Inc. raised its position in shares of Tapestry by 5.0% during the fourth 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 during the period. Abacus FCF Advisors LLC raised its position in shares of Tapestry by 46.2% during the fourth quarter. Abacus FCF Advisors LLC now owns 45,487 shares of the luxury accessories retailer's stock worth $2,972,000 after purchasing an additional 14,384 shares during the period. Principal Financial Group Inc. raised its position in shares of Tapestry by 14.6% during the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer's stock worth $20,195,000 after purchasing an additional 39,298 shares during the period. Finally, Pzena Investment Management LLC acquired a new position in shares of Tapestry during the fourth quarter worth approximately $18,737,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Performance

Tapestry stock traded up $3.95 during trading on Tuesday, hitting $80.82. The stock had a trading volume of 5,462,141 shares, compared to its average volume of 4,245,990. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The stock's 50 day moving average is $71.52 and its two-hundred day moving average is $70.55. The stock has a market cap of $16.79 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41.

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

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 6th will be given a $0.35 dividend. 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 1.73%. Tapestry's dividend payout ratio (DPR) is presently 36.84%.

Analyst Ratings Changes

A number of brokerages have commented on TPR. UBS Group boosted their price objective on Tapestry from $68.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Jefferies Financial Group boosted their price objective on Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Barclays boosted their price objective on Tapestry from $83.00 to $98.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Wells Fargo & Company reissued an "overweight" rating and set a $100.00 price objective (up from $90.00) on shares of Tapestry in a report on Wednesday, May 14th. Finally, Morgan Stanley raised Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price objective for the company in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $83.89.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 1,399 shares of the firm's stock in a transaction dated 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 directly owns 40,922 shares of the company's stock, valued at approximately $3,350,693.36. This trade represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Kahn sold 40,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 116,062 shares in the company, valued at $9,447,446.80. This trade represents a 25.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by company insiders.

Tapestry Company 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.