Universal Beteiligungs und Servicegesellschaft mbH Buys New Stake in Tapestry, Inc. (NYSE:TPR)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 229,618 shares of the luxury accessories retailer's stock, valued at approximately $15,001,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.11% of Tapestry as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the business. Coppell Advisory Solutions LLC raised its holdings in shares of Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Tapestry by 1.9% in the 4th quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer's stock valued at $580,000 after purchasing an additional 163 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Tapestry by 0.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer's stock valued at $1,261,000 after purchasing an additional 170 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Tapestry by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer's stock valued at $104,000 after purchasing an additional 182 shares in the last quarter. Finally, E Fund Management Co. Ltd. raised its holdings in shares of Tapestry by 1.6% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer's stock valued at $833,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Redburn Atlantic upgraded shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target for the company in a report on Tuesday, February 18th. Robert W. Baird lifted their price objective on shares of Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Morgan Stanley raised shares of Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price objective on the stock in a research report on Thursday, May 8th. Citigroup lifted their price objective on shares of Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Guggenheim lifted their price objective on shares of Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $83.89.

Insider Buying and Selling at Tapestry

In related news, CEO Todd Kahn sold 40,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $81.40, for a total transaction of $3,256,000.00. Following the completion of the transaction, the chief executive officer now directly owns 116,062 shares in the company, valued at $9,447,446.80. The trade was a 25.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Manesh Dadlani sold 1,399 shares of the business's stock in a transaction on Monday, May 12th. The shares were 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 of the company's stock, valued at $3,350,693.36. This represents a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Tapestry Stock Performance

TPR stock traded up $0.21 during trading on Tuesday, reaching $78.77. The company had a trading volume of 2,504,526 shares, compared to its average volume of 4,256,464. The firm has a 50-day simple moving average of $72.18 and a 200-day simple moving average of $71.49. The company has a market cap of $16.36 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85.

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

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry's payout ratio is 36.84%.

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.