Kingsview Wealth Management LLC Grows Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Kingsview Wealth Management LLC raised its stake in Tapestry, Inc. (NYSE:TPR) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,082 shares of the luxury accessories retailer’s stock after buying an additional 421 shares during the period. Kingsview Wealth Management LLC’s holdings in Tapestry were worth $463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in Tapestry by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock valued at $357,732,000 after buying an additional 272,007 shares during the period. Pacer Advisors Inc. boosted its position in Tapestry by 1.0% in the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock valued at $285,580,000 after buying an additional 58,135 shares during the period. Geode Capital Management LLC lifted its position in shares of Tapestry by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock worth $262,156,000 after purchasing an additional 80,681 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of Tapestry by 14.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after purchasing an additional 219,544 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tapestry by 8.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,618 shares of the luxury accessories retailer’s stock worth $66,459,000 after purchasing an additional 115,340 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TPR shares. Wells Fargo & Company upped their price target on shares of Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and issued a $88.00 price target (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Evercore ISI upped their price target on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. TD Cowen cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research report on Tuesday, October 29th. Finally, BMO Capital Markets upped their price target on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $74.78.

Tapestry Trading Up 1.7 %

Shares of Tapestry stock opened at $86.61 on Friday. The company has a current ratio of 1.58, a quick ratio of 4.38 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $87.87. The firm has a market capitalization of $20.18 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 2.30 and a beta of 1.58. The firm’s 50 day simple moving average is $69.60 and its two-hundred day simple moving average is $54.46.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter last year, the business posted $1.63 EPS. Analysts predict that Tapestry, Inc. will post 4.7 EPS for the current year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is currently 40.58%.

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.