Tapestry, Inc. (NYSE:TPR) Shares Acquired by Secure Asset Management LLC

Secure Asset Management LLC grew its position in Tapestry, Inc. (NYSE:TPR) by 20.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 36,892 shares of the luxury accessories retailer’s stock after acquiring an additional 6,282 shares during the quarter. Secure Asset Management LLC’s holdings in Tapestry were worth $1,733,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Capital Research Global Investors lifted its stake in shares of Tapestry by 8.5% in the 1st quarter. Capital Research Global Investors now owns 6,238,670 shares of the luxury accessories retailer’s stock valued at $296,212,000 after purchasing an additional 489,933 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Tapestry by 53.1% in the 2nd quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock valued at $257,623,000 after purchasing an additional 2,087,586 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Tapestry by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock valued at $151,965,000 after purchasing an additional 165,406 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Tapestry by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer’s stock valued at $116,928,000 after purchasing an additional 46,760 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Tapestry by 235.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock worth $61,578,000 after acquiring an additional 1,051,743 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TPR has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on Tapestry from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. JPMorgan Chase & Co. cut their target price on Tapestry from $54.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Evercore ISI lowered their price target on Tapestry from $53.00 to $47.00 and set an “outperform” rating for the company in a report on Friday, August 9th. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a research note on Wednesday, September 25th. Finally, Citigroup lowered their price objective on Tapestry from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.07.

Tapestry Stock Down 0.6 %

NYSE:TPR opened at $45.18 on Friday. The firm has a market capitalization of $10.38 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.67 and a beta of 1.53. Tapestry, Inc. has a 1-year low of $25.99 and a 1-year high of $48.80. The company has a current ratio of 5.14, a quick ratio of 4.66 and a debt-to-equity ratio of 2.39. The business’s fifty day moving average price is $42.73 and its 200 day moving average price is $41.86.

Tapestry (NYSE:TPR) last posted its quarterly 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. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. Tapestry’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. On average, sell-side analysts forecast that Tapestry, Inc. will post 4.47 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

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

Tapestry Profile

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.