Czech National Bank Acquires 3,629 Shares of Tapestry, Inc. (NYSE:TPR)

Czech National Bank raised its stake in shares of Tapestry, Inc. (NYSE:TPR) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,527 shares of the luxury accessories retailer’s stock after buying an additional 3,629 shares during the quarter. Czech National Bank’s holdings in Tapestry were worth $3,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in 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 purchasing an additional 272,007 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of 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 acquiring an additional 58,135 shares during the last quarter. Geode Capital Management LLC grew its position in Tapestry by 1.5% in 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 acquiring an additional 80,681 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Tapestry by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock worth $151,965,000 after acquiring an additional 165,406 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in 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 worth $79,822,000 after acquiring an additional 219,544 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of NYSE TPR opened at $69.63 on Friday. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $69.84. The business’s 50 day moving average price is $62.11 and its 200 day moving average price is $49.51. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The firm has a market cap of $16.23 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.91 and a beta of 1.58.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Friday, December 6th. Tapestry’s payout ratio is 40.46%.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the transaction, the vice president now directly owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.18% of the stock is owned by insiders.

Analysts Set New Price Targets

TPR has been the topic of several analyst reports. TD Cowen downgraded Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a research report on Tuesday, October 29th. Raymond James reissued an “outperform” rating and issued a $57.00 target price (up previously from $55.00) on shares of Tapestry in a research note on Friday, November 8th. Robert W. Baird lifted their price target on shares of Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Wells Fargo & Company increased their price objective on shares of Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, UBS Group boosted their target price on Tapestry from $57.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have given 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 $64.76.

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.