Tapestry, Inc. (NYSE:TPR) Shares Acquired by First Horizon Advisors Inc.

First Horizon Advisors Inc. lifted its holdings in Tapestry, Inc. (NYSE:TPR) by 334.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,504 shares of the luxury accessories retailer’s stock after purchasing an additional 1,158 shares during the period. First Horizon Advisors Inc.’s holdings in Tapestry were worth $55,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TPR. Bell Investment Advisors Inc increased its position in shares of Tapestry by 718.1% during the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after acquiring an additional 833 shares during the period. AllSquare Wealth Management LLC increased its holdings 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 worth $47,000 after purchasing an additional 423 shares during the period. Parkside Financial Bank & Trust raised its position in Tapestry by 56.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock valued at $53,000 after purchasing an additional 668 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Tapestry by 62.0% in the 4th quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer’s stock valued at $60,000 after buying an additional 620 shares during the period. Finally, Wolverine Asset Management LLC acquired a new position in shares of Tapestry during the third quarter worth about $63,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Thursday, February 29th. Evercore ISI upgraded shares of Tapestry from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $30.00 to $50.00 in a research note on Monday, February 5th. Raymond James raised their price target on Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. The Goldman Sachs Group upped their price objective on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, OTR Global reissued a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.81.

Tapestry Trading Down 1.2 %

Shares of Tapestry stock opened at $38.99 on Wednesday. The company’s fifty day moving average is $43.95 and its two-hundred day moving average is $38.62. Tapestry, Inc. has a 1 year low of $25.99 and a 1 year high of $48.80. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25. The company has a market capitalization of $8.94 billion, a P/E ratio of 9.85, a PEG ratio of 0.81 and a beta of 1.61.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.17. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts forecast that Tapestry, Inc. will post 4.23 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.59%. Tapestry’s dividend payout ratio (DPR) is 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.