Swiss National Bank purchased a new stake in Tapestry Inc (NYSE:TPR) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,037,673 shares of the luxury accessories retailer’s stock, valued at approximately $45,896,000. Swiss National Bank owned about 0.36% of Tapestry as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Hexavest Inc. acquired a new stake in shares of Tapestry in the fourth quarter valued at about $106,000. Dupont Capital Management Corp acquired a new stake in shares of Tapestry in the fourth quarter valued at about $110,000. Cerebellum GP LLC acquired a new stake in shares of Tapestry in the fourth quarter valued at about $118,000. M&R Capital Management Inc. acquired a new stake in shares of Tapestry in the third quarter valued at about $153,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Tapestry in the fourth quarter valued at about $163,000. 87.97% of the stock is currently owned by institutional investors.
In other news, CAO Todd Kahn sold 4,357 shares of Tapestry stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $49.13, for a total value of $214,059.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Victor Luis sold 123,780 shares of Tapestry stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $50.02, for a total transaction of $6,191,475.60. The disclosure for this sale can be found here. Insiders sold 134,366 shares of company stock valued at $6,705,960 in the last quarter. 0.98% of the stock is currently owned by corporate insiders.
Tapestry (NYSE:TPR) last posted its earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.21. Tapestry had a net margin of 6.14% and a return on equity of 23.68%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. Tapestry’s quarterly revenue was up 35.1% compared to the same quarter last year. sell-side analysts forecast that Tapestry Inc will post 2.58 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on TPR shares. Goldman Sachs Group raised Tapestry from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, December 5th. William Blair reissued a “buy” rating on shares of Tapestry in a research report on Saturday, October 21st. Citigroup assumed coverage on Tapestry in a research report on Thursday, November 2nd. They set a “positive” rating and a $50.00 target price on the stock. Zacks Investment Research raised Tapestry from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Monday, January 8th. Finally, UBS Group decreased their target price on Tapestry from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Tapestry currently has an average rating of “Buy” and an average price target of $50.23.
ILLEGAL ACTIVITY WARNING: “Swiss National Bank Purchases New Stake in Tapestry Inc (TPR)” was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece of content on another website, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The original version of this piece of content can be read at https://stocknewstimes.com/2018/02/17/swiss-national-bank-purchases-new-stake-in-tapestry-inc-tpr.html.
Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.
Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry Inc (NYSE:TPR).
Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.