Tapestry, Inc. (NYSE:TPR) Shares Purchased by Assetmark Inc.

Assetmark Inc. boosted its holdings in Tapestry, Inc. (NYSE:TPRGet Rating) by 2,382.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 968 shares of the luxury accessories retailer’s stock after purchasing an additional 929 shares during the quarter. Assetmark Inc.’s holdings in Tapestry were worth $28,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Tapestry by 2.4% in the first quarter. Vanguard Group Inc. now owns 32,654,335 shares of the luxury accessories retailer’s stock valued at $1,213,109,000 after purchasing an additional 751,210 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Tapestry by 4.1% in the second quarter. Franklin Resources Inc. now owns 9,825,853 shares of the luxury accessories retailer’s stock valued at $299,885,000 after purchasing an additional 390,491 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Tapestry by 45.7% in the second quarter. Lazard Asset Management LLC now owns 4,758,778 shares of the luxury accessories retailer’s stock valued at $145,237,000 after purchasing an additional 1,492,589 shares in the last quarter. Northern Trust Corp boosted its holdings in Tapestry by 7.3% in the second quarter. Northern Trust Corp now owns 3,372,674 shares of the luxury accessories retailer’s stock valued at $102,934,000 after purchasing an additional 228,218 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Tapestry by 43.3% in the second quarter. Amundi now owns 1,556,843 shares of the luxury accessories retailer’s stock valued at $48,417,000 after acquiring an additional 470,087 shares during the period. 92.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TPR has been the subject of several research analyst reports. The Goldman Sachs Group raised Tapestry from a “neutral” rating to a “buy” rating and increased their price objective for the company from $37.00 to $44.00 in a report on Monday, December 12th. Raymond James initiated coverage on Tapestry in a report on Monday, December 19th. They issued an “outperform” rating and a $44.00 price objective for the company. Sanford C. Bernstein downgraded Tapestry from an “outperform” rating to a “market perform” rating in a report on Thursday, January 5th. StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a report on Wednesday, December 21st. Finally, Barclays decreased their price objective on Tapestry to $38.00 in a report on Wednesday, November 16th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $44.88.

Tapestry Trading Up 2.4 %

NYSE:TPR opened at $43.71 on Monday. The stock has a fifty day moving average price of $38.30 and a two-hundred day moving average price of $34.78. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 13.88, a PEG 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. Tapestry, Inc. has a 1 year low of $26.39 and a 1 year high of $44.09.

Tapestry (NYSE:TPRGet Rating) last released its quarterly earnings data on Thursday, November 10th. The luxury accessories retailer reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.05. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Tapestry had a return on equity of 35.86% and a net margin of 12.29%. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 3.63 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

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

Insiders Place Their Bets

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

Tapestry Company Profile

(Get Rating)

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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