Federated Hermes Inc. Buys 497 Shares of Tapestry, Inc. (NYSE:TPR)

Federated Hermes Inc. boosted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 23.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,648 shares of the luxury accessories retailer’s stock after purchasing an additional 497 shares during the quarter. Federated Hermes Inc.’s holdings in Tapestry were worth $97,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bell Investment Advisors Inc lifted its position in Tapestry by 718.1% during the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock valued at $27,000 after acquiring an additional 833 shares during the last quarter. AllSquare Wealth Management LLC increased its position in Tapestry by 35.1% during the 3rd quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock valued at $47,000 after buying an additional 423 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Tapestry by 56.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock valued at $53,000 after buying an additional 668 shares in the last quarter. Allworth Financial LP boosted its holdings in Tapestry by 62.0% in the fourth quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer’s stock worth $60,000 after acquiring an additional 620 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in shares of Tapestry during the third quarter valued at about $63,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TPR. StockNews.com upgraded shares of Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Jefferies Financial Group downgraded Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Thursday, February 29th. Wells Fargo & Company lifted their price target on Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. The Goldman Sachs Group increased their price objective on Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 target price on shares of Tapestry in a report on Wednesday, March 27th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.81.

Tapestry Price Performance

NYSE:TPR opened at $39.48 on Tuesday. The stock has a market capitalization of $9.06 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 0.81 and a beta of 1.61. Tapestry, Inc. has a 52 week low of $25.99 and a 52 week high of $48.80. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90. The stock’s 50-day moving average price is $44.29 and its 200-day moving average price is $38.47.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.17. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts expect that Tapestry, Inc. will post 4.23 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.55%. Tapestry’s dividend payout ratio is currently 35.35%.

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.