Tapestry, Inc. (NYSE:TPR) Stock Holdings Trimmed by Hartford Investment Management Co.

Hartford Investment Management Co. decreased its holdings in Tapestry, Inc. (NYSE:TPR) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,343 shares of the luxury accessories retailer’s stock after selling 277 shares during the quarter. Hartford Investment Management Co.’s holdings in Tapestry were worth $937,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of TPR. Charles Schwab Investment Management Inc. grew 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 in the last quarter. Pacer Advisors Inc. increased its stake 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 during the period. Geode Capital Management LLC raised its holdings in 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 worth $262,156,000 after purchasing an additional 80,681 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in Tapestry by 14.8% in the third 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 boosted its stake in Tapestry by 8.9% during 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 valued at $66,459,000 after purchasing an additional 115,340 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Up 1.2 %

TPR stock opened at $87.68 on Friday. The company has a 50 day moving average of $70.11 and a two-hundred day moving average of $54.79. The company has a market cap of $18.15 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.30 and a beta of 1.58. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $88.07. 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 (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (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 quarter last year, the business earned $1.63 earnings per share. On average, equities analysts anticipate that Tapestry, Inc. will post 4.7 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be issued a $0.35 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.60%. Tapestry’s dividend payout ratio is currently 40.58%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TPR shares. Daiwa America upgraded Tapestry to a “hold” rating in a report on Monday, November 18th. Wells Fargo & Company upped their price target on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and issued a $88.00 target price (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. The Goldman Sachs Group raised their target price on shares of Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Citigroup upped their price target on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.78.

About Tapestry

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.