Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,192 shares of the luxury accessories retailer’s stock, valued at approximately $117,000.
A number of other hedge funds also recently bought and sold shares of TPR. Vanguard Group Inc. grew its holdings in shares of Tapestry by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 31,554,418 shares of the luxury accessories retailer’s stock valued at $907,190,000 after purchasing an additional 173,111 shares during the last quarter. FMR LLC grew its position in Tapestry by 2.0% during the 3rd quarter. FMR LLC now owns 14,018,492 shares of the luxury accessories retailer’s stock worth $403,032,000 after acquiring an additional 280,959 shares during the last quarter. Victory Capital Management Inc. increased its stake in Tapestry by 4.7% in the 3rd quarter. Victory Capital Management Inc. now owns 6,823,763 shares of the luxury accessories retailer’s stock worth $196,183,000 after purchasing an additional 305,658 shares during the period. Ninety One UK Ltd lifted its position in Tapestry by 12.7% in the fourth quarter. Ninety One UK Ltd now owns 5,321,308 shares of the luxury accessories retailer’s stock valued at $195,877,000 after purchasing an additional 597,715 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Tapestry by 28.2% in the third quarter. Ameriprise Financial Inc. now owns 5,249,047 shares of the luxury accessories retailer’s stock worth $150,916,000 after purchasing an additional 1,154,808 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have weighed in on TPR. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Jefferies Financial Group cut Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research note on Thursday, February 29th. Raymond James increased their price objective on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. OTR Global reissued a “mixed” rating on shares of Tapestry in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. dropped their price target on Tapestry from $56.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $48.71.
View Our Latest Stock Report on TPR
Tapestry Trading Down 0.7 %
NYSE TPR opened at $40.07 on Friday. The stock’s fifty day moving average price is $43.49 and its 200-day moving average price is $38.80. The company has a current ratio of 6.59, a quick ratio of 5.68 and a debt-to-equity ratio of 2.77. The stock has a market cap of $9.19 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.83 and a beta of 1.61. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $48.80.
Tapestry (NYSE:TPR – Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.14. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts forecast that Tapestry, Inc. will post 4.23 EPS for the current fiscal year.
Tapestry Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Friday, June 7th. Tapestry’s dividend payout ratio is currently 37.04%.
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.
Featured Articles
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 – Free Report).
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.