Vontobel Holding Ltd. Sells 4,518 Shares of Tapestry, Inc. (NYSE:TPR)

Vontobel Holding Ltd. decreased its position in Tapestry, Inc. (NYSE:TPR) by 24.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,128 shares of the luxury accessories retailer’s stock after selling 4,518 shares during the quarter. Vontobel Holding Ltd.’s holdings in Tapestry were worth $923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Tapestry by 3.7% during the third 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 acquiring an additional 272,007 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Tapestry by 1.0% during the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock valued at $285,580,000 after acquiring an additional 58,135 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Tapestry by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock valued at $262,156,000 after acquiring an additional 80,681 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after acquiring an additional 219,544 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Tapestry by 8.9% during the third 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 valued at $66,459,000 after acquiring an additional 115,340 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Daiwa America upgraded Tapestry to a “hold” rating in a report on Monday, November 18th. UBS Group increased their price objective on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Bank of America increased their price objective on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 price objective on shares of Tapestry in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $76.63.

Tapestry Stock Up 1.5 %

NYSE TPR opened at $88.99 on Wednesday. The stock’s 50-day moving average price is $71.17 and its 200-day moving average price is $55.70. The company has a quick ratio of 4.38, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. The company has a market capitalization of $20.74 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 2.30 and a beta of 1.58.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period in the prior year, the company earned $1.63 EPS. On average, equities research analysts predict that Tapestry, Inc. will post 4.7 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 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.