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

Ninety One UK Ltd raised its stake in shares of Tapestry, Inc. (NYSE:TPR) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,321,308 shares of the luxury accessories retailer’s stock after purchasing an additional 597,715 shares during the quarter. Ninety One UK Ltd owned 2.32% of Tapestry worth $195,877,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of TPR. Brown Brothers Harriman & Co. lifted its holdings in shares of Tapestry by 340.7% during the first quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer’s stock valued at $25,000 after acquiring an additional 511 shares during the period. Alpha Paradigm Partners LLC bought a new stake in Tapestry during the third quarter worth about $26,000. Bell Investment Advisors Inc increased its holdings in shares of Tapestry by 718.1% during the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after buying an additional 833 shares in the last quarter. Quarry LP raised its stake in shares of Tapestry by 100.8% in the second quarter. Quarry LP now owns 968 shares of the luxury accessories retailer’s stock valued at $41,000 after acquiring an additional 127,311 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Tapestry by 955.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock worth $41,000 after acquiring an additional 994 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Tapestry Trading Down 0.0 %

Tapestry stock traded down $0.02 during mid-day trading on Thursday, hitting $40.47. 1,064,169 shares of the company’s stock were exchanged, compared to its average volume of 3,723,585. The company’s 50 day simple moving average is $45.57 and its 200-day simple moving average is $37.41. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $9.28 billion, a P/E ratio of 10.22, a PEG ratio of 0.84 and a beta of 1.57. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.17. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the business posted $1.36 EPS. Tapestry’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities analysts anticipate that Tapestry, Inc. will post 4.25 earnings per share for the current year.

Tapestry Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. TheStreet upgraded Tapestry from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday. The Goldman Sachs Group lifted their target price on Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Evercore ISI raised Tapestry from an “in-line” rating to an “outperform” rating and upped their price target for the company from $30.00 to $50.00 in a research note on Monday, February 5th. Finally, OTR Global reiterated a “mixed” rating on shares of Tapestry in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $47.81.

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.