Swedbank AB Purchases 92,458 Shares of Tapestry, Inc. (NYSE:TPR)

Swedbank AB increased its position in Tapestry, Inc. (NYSE:TPR) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,092,260 shares of the luxury accessories retailer’s stock after purchasing an additional 92,458 shares during the quarter. Swedbank AB owned approximately 0.48% of Tapestry worth $51,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new stake in Tapestry during the first quarter worth $35,000. BNP Paribas purchased a new stake in Tapestry during the first quarter worth $38,000. Massmutual Trust Co. FSB ADV lifted its holdings in Tapestry by 54.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after buying an additional 328 shares during the period. Blue Trust Inc. lifted its holdings in Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after buying an additional 556 shares during the period. Finally, MUFG Securities EMEA plc lifted its holdings in Tapestry by 34.9% during the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after buying an additional 317 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 0.8 %

TPR opened at $45.22 on Wednesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 5.14 and a quick ratio of 4.66. The company’s 50 day simple moving average is $42.40 and its two-hundred day simple moving average is $41.82. Tapestry, Inc. has a 1-year low of $25.99 and a 1-year high of $48.80. The firm has a market capitalization of $10.39 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 1.67 and a beta of 1.53.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. Analysts expect that Tapestry, Inc. will post 4.47 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.40 annualized dividend and a dividend yield of 3.10%. Tapestry’s dividend payout ratio (DPR) is 37.04%.

Analysts Set New Price Targets

A number of analysts have weighed in on TPR shares. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. Argus reiterated a “buy” rating and set a $52.00 price objective on shares of Tapestry in a report on Tuesday, June 18th. Evercore ISI decreased their price objective on Tapestry from $53.00 to $47.00 and set an “outperform” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. decreased their price objective on Tapestry from $54.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.07.

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.