Ninety One UK Ltd Has $195.88 Million Stock Position in Tapestry, Inc. (NYSE:TPR)

Ninety One UK Ltd raised its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,321,308 shares of the luxury accessories retailer's stock after acquiring an additional 597,715 shares during the quarter. Ninety One UK Ltd owned approximately 2.32% of Tapestry worth $195,877,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPR. Federated Hermes Inc. raised its holdings in shares of Tapestry by 23.1% in the fourth quarter. Federated Hermes Inc. now owns 2,648 shares of the luxury accessories retailer's stock valued at $97,000 after buying an additional 497 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Tapestry by 12.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,141 shares of the luxury accessories retailer's stock worth $226,000 after buying an additional 670 shares during the period. Rakuten Securities Inc. acquired a new position in shares of Tapestry during the 4th quarter worth about $197,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Tapestry by 11.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,148 shares of the luxury accessories retailer's stock worth $1,846,000 after buying an additional 5,292 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Tapestry by 25.9% during the 4th quarter. Mackenzie Financial Corp now owns 18,132 shares of the luxury accessories retailer's stock worth $667,000 after buying an additional 3,735 shares during the period. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on TPR. OTR Global restated a "mixed" rating on shares of Tapestry in a research report on Wednesday. Telsey Advisory Group reiterated an "outperform" rating and set a $54.00 price objective on shares of Tapestry in a report on Wednesday, March 27th. TheStreet upgraded Tapestry from a "c+" rating to a "b-" rating in a report on Tuesday, December 26th. The Goldman Sachs Group lifted their price objective on Tapestry from $41.00 to $47.00 and gave the company a "buy" rating in a report on Friday, February 9th. Finally, Jefferies Financial Group cut Tapestry from a "buy" rating to a "hold" rating and set a $50.00 price objective on the stock. in a report on Thursday, February 29th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.81.

Tapestry Stock Up 0.0 %

Shares of Tapestry stock traded up $0.01 on Thursday, reaching $40.50. 3,813,503 shares of the company were exchanged, compared to its average volume of 3,761,391. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 0.84 and a beta of 1.57. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90. The company has a 50-day moving average of $45.57 and a 200 day moving average of $37.41.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.17. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The company had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.05 billion. During the same quarter in the prior year, the business posted $1.36 EPS. The business's revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Tapestry, Inc. will post 4.25 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 7th. Tapestry's dividend payout ratio is currently 35.35%.

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.