National Pension Service boosted its position in Tapestry Inc (NYSE:TPR) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 427,442 shares of the luxury accessories retailer’s stock after purchasing an additional 22,317 shares during the period. National Pension Service’s holdings in Tapestry were worth $11,135,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in TPR. Stephens Inc. AR boosted its holdings in shares of Tapestry by 3.0% in the second quarter. Stephens Inc. AR now owns 11,983 shares of the luxury accessories retailer’s stock worth $380,000 after buying an additional 347 shares during the last quarter. Avestar Capital LLC grew its position in Tapestry by 34.5% during the second quarter. Avestar Capital LLC now owns 1,626 shares of the luxury accessories retailer’s stock valued at $51,000 after buying an additional 417 shares during the period. Oregon Public Employees Retirement Fund grew its position in Tapestry by 1.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 30,869 shares of the luxury accessories retailer’s stock valued at $979,000 after buying an additional 480 shares during the period. Capital Investment Counsel Inc grew its position in Tapestry by 6.1% during the third quarter. Capital Investment Counsel Inc now owns 9,015 shares of the luxury accessories retailer’s stock valued at $235,000 after buying an additional 515 shares during the period. Finally, Aperio Group LLC increased its holdings in Tapestry by 0.4% during the second quarter. Aperio Group LLC now owns 124,155 shares of the luxury accessories retailer’s stock valued at $3,940,000 after buying an additional 530 shares during the last quarter. Institutional investors and hedge funds own 89.69% of the company’s stock.
Shares of NYSE TPR opened at $25.89 on Tuesday. The firm’s 50-day moving average price is $26.34 and its 200-day moving average price is $27.15. The company has a current ratio of 1.82, a quick ratio of 1.09 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 1.15 and a beta of 1.01. Tapestry Inc has a 12-month low of $18.54 and a 12-month high of $41.06.
Tapestry (NYSE:TPR) last released its quarterly earnings results on Tuesday, November 5th. The luxury accessories retailer reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. Tapestry had a return on equity of 21.17% and a net margin of 9.01%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.48 earnings per share. On average, equities analysts predict that Tapestry Inc will post 2.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 6th will be given a dividend of $0.338 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.35 dividend on an annualized basis and a yield of 5.22%. Tapestry’s dividend payout ratio (DPR) is presently 52.53%.
In other Tapestry news, insider Sarah Dunn sold 32,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $26.78, for a total transaction of $856,960.00. Following the sale, the insider now directly owns 62,131 shares in the company, valued at $1,663,868.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.
Several research analysts have weighed in on TPR shares. Bank of America set a $28.00 price target on shares of Tapestry and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Telsey Advisory Group cut Tapestry from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 15th. Deutsche Bank set a $33.00 price objective on Tapestry and gave the company a “buy” rating in a research note on Friday, August 16th. Barclays began coverage on shares of Tapestry in a research report on Tuesday, November 12th. They issued an “equal weight” rating and a $27.00 price target for the company. Finally, Piper Jaffray Companies cut shares of Tapestry from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $40.00 to $23.00 in a research note on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $31.00.
Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.
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