Brinker Capital Investments LLC Purchases 1,395 Shares of Tapestry, Inc. (NYSE:TPR)

Brinker Capital Investments LLC boosted its stake in shares of Tapestry, Inc. (NYSE:TPRGet Rating) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 29,961 shares of the luxury accessories retailer’s stock after buying an additional 1,395 shares during the period. Brinker Capital Investments LLC’s holdings in Tapestry were worth $852,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Kestra Advisory Services LLC raised its holdings in Tapestry by 37.1% during the 3rd quarter. Kestra Advisory Services LLC now owns 21,094 shares of the luxury accessories retailer’s stock worth $600,000 after buying an additional 5,708 shares during the period. Zimmermann Investment Management & Planning LLC acquired a new stake in Tapestry during the 3rd quarter worth approximately $319,000. Great West Life Assurance Co. Can raised its holdings in shares of Tapestry by 30.6% in the third quarter. Great West Life Assurance Co. Can now owns 72,252 shares of the luxury accessories retailer’s stock valued at $2,050,000 after purchasing an additional 16,926 shares during the last quarter. Personal CFO Solutions LLC raised its holdings in shares of Tapestry by 6.0% in the third quarter. Personal CFO Solutions LLC now owns 14,430 shares of the luxury accessories retailer’s stock valued at $410,000 after purchasing an additional 813 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Tapestry by 2,382.1% in the third quarter. Assetmark Inc. now owns 968 shares of the luxury accessories retailer’s stock valued at $28,000 after purchasing an additional 929 shares during the last quarter. 92.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Tapestry Trading Up 2.4 %

Shares of Tapestry stock opened at $43.71 on Monday. The firm has a 50-day moving average of $38.30 and a 200-day moving average of $34.78. The stock has a market cap of $10.53 billion, a PE ratio of 13.88, a PEG ratio of 0.96 and a beta of 1.36. Tapestry, Inc. has a 52-week low of $26.39 and a 52-week high of $44.09. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.82.

Tapestry (NYSE:TPRGet Rating) last announced its earnings results 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 analysts’ expectations of $1.51 billion. Tapestry had a net margin of 12.29% and a return on equity of 35.86%. As a group, sell-side analysts forecast that Tapestry, Inc. will post 3.63 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 27th. Stockholders of record on Friday, December 9th were given a $0.30 dividend. The ex-dividend date was Thursday, December 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.75%. Tapestry’s payout ratio is presently 38.10%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TPR shares. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, November 29th. Credit Suisse Group lowered their target price on shares of Tapestry to $45.00 in a report on Wednesday, November 16th. Morgan Stanley boosted their target price on shares of Tapestry from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, November 17th. Barclays lowered their target price on shares of Tapestry to $38.00 in a report on Wednesday, November 16th. Finally, Raymond James started coverage on shares of Tapestry in a report on Monday, December 19th. They set an “outperform” rating and a $44.00 target price on the stock. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.

See Also

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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