Janney Montgomery Scott LLC Purchases 9,063 Shares of Tapestry, Inc. (NYSE:TPR)

Janney Montgomery Scott LLC grew its position in Tapestry, Inc. (NYSE:TPRGet Rating) by 35.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,345 shares of the luxury accessories retailer’s stock after purchasing an additional 9,063 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Tapestry were worth $976,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC boosted its stake in Tapestry by 45.7% during the second quarter. Lazard Asset Management LLC now owns 4,758,778 shares of the luxury accessories retailer’s stock worth $145,237,000 after acquiring an additional 1,492,589 shares in the last quarter. Vanguard Group Inc. boosted its stake in Tapestry by 2.4% during the first quarter. Vanguard Group Inc. now owns 32,654,335 shares of the luxury accessories retailer’s stock worth $1,213,109,000 after acquiring an additional 751,210 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Tapestry by 399.2% during the second quarter. BNP Paribas Arbitrage SA now owns 652,949 shares of the luxury accessories retailer’s stock worth $19,928,000 after acquiring an additional 522,138 shares in the last quarter. Todd Asset Management LLC boosted its stake in Tapestry by 60.6% during the second quarter. Todd Asset Management LLC now owns 1,314,475 shares of the luxury accessories retailer’s stock worth $40,117,000 after acquiring an additional 495,914 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Tapestry by 350.1% during the second quarter. Victory Capital Management Inc. now owns 633,770 shares of the luxury accessories retailer’s stock worth $19,342,000 after acquiring an additional 492,960 shares in the last quarter. 92.84% of the stock is owned by institutional investors.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 1,582 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $38.53, for a total transaction of $60,954.46. Following the completion of the transaction, the vice president now directly owns 39,375 shares in the company, valued at approximately $1,517,118.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.81% of the stock is currently owned by corporate insiders.

Tapestry Price Performance

Shares of NYSE:TPR opened at $43.75 on Thursday. Tapestry, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $44.09. The firm has a market cap of $10.54 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.82. The business has a 50-day simple moving average of $37.93 and a two-hundred day simple moving average of $34.59.

Tapestry (NYSE:TPRGet Rating) last announced its quarterly earnings data on Thursday, November 10th. The luxury accessories retailer reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. Tapestry had a return on equity of 35.86% and a net margin of 12.29%. On average, analysts expect that Tapestry, Inc. will post 3.63 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 27th. Investors of record on Friday, December 9th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.74%. Tapestry’s dividend payout ratio (DPR) is presently 38.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TPR shares. Credit Suisse Group cut their target price on shares of Tapestry to $45.00 in a research note on Wednesday, November 16th. Barclays lowered their price objective on shares of Tapestry to $38.00 in a report on Wednesday, November 16th. Sanford C. Bernstein downgraded shares of Tapestry from an “outperform” rating to a “market perform” rating in a report on Thursday, January 5th. Raymond James assumed coverage on shares of Tapestry in a report on Monday, December 19th. They set an “outperform” rating and a $44.00 price objective on the stock. Finally, StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a report on Wednesday, December 21st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.88.

Tapestry Company Profile

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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 accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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