Wells Fargo & Company MN Has $14.70 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Wells Fargo & Company MN lifted its position in shares of Tapestry, Inc. (NYSE:TPRFree Report) by 27.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 399,372 shares of the luxury accessories retailer’s stock after purchasing an additional 87,172 shares during the quarter. Wells Fargo & Company MN owned approximately 0.17% of Tapestry worth $14,701,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Tapestry in the 4th quarter valued at $79,352,000. Fiera Capital Corp acquired a new stake in Tapestry in the 4th quarter valued at $52,121,000. Invesco Ltd. boosted its stake in Tapestry by 37.8% in the 3rd quarter. Invesco Ltd. now owns 4,394,913 shares of the luxury accessories retailer’s stock valued at $126,354,000 after buying an additional 1,205,207 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Tapestry in the 3rd quarter valued at $34,010,000. Finally, Pacer Advisors Inc. boosted its stake in Tapestry by 60.1% in the 4th quarter. Pacer Advisors Inc. now owns 3,108,486 shares of the luxury accessories retailer’s stock valued at $114,423,000 after buying an additional 1,167,231 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Trading Up 2.7 %

NYSE TPR opened at $43.49 on Friday. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $48.80. The company has a current ratio of 6.59, a quick ratio of 5.98 and a debt-to-equity ratio of 2.77. The company has a market capitalization of $9.99 billion, a PE ratio of 11.51, a P/E/G ratio of 0.92 and a beta of 1.61. The stock has a 50-day simple moving average of $41.98 and a 200 day simple moving average of $40.29.

Tapestry (NYSE:TPRGet Free Report) last posted its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.14. Tapestry had a return on equity of 39.78% and a net margin of 13.15%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. Research analysts forecast that Tapestry, Inc. will post 4.22 EPS for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.22%. Tapestry’s payout ratio is presently 37.04%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. The Goldman Sachs Group boosted their price objective on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Jefferies Financial Group lowered Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Thursday, February 29th. Evercore ISI raised Tapestry from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $30.00 to $50.00 in a research note on Monday, February 5th. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Finally, Robert W. Baird reduced their price objective on Tapestry from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.31.

View Our Latest Report on Tapestry

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 2,500 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $42.23, for a total transaction of $105,575.00. Following the completion of the transaction, the vice president now directly owns 37,173 shares in the company, valued at $1,569,815.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.93% of the stock is owned by corporate insiders.

About Tapestry

(Free Report)

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.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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