Tapestry, Inc. (NYSE:TPR) Stake Raised by Stifel Financial Corp

Stifel Financial Corp grew its holdings in shares of Tapestry, Inc. (NYSE:TPRFree Report) by 33.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 152,611 shares of the luxury accessories retailer’s stock after purchasing an additional 37,828 shares during the period. Stifel Financial Corp owned approximately 0.07% of Tapestry worth $5,618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in TPR. Raleigh Capital Management Inc. boosted its holdings in Tapestry by 5.7% during the third quarter. Raleigh Capital Management Inc. now owns 5,463 shares of the luxury accessories retailer’s stock worth $157,000 after buying an additional 297 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Tapestry by 0.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 109,837 shares of the luxury accessories retailer’s stock worth $3,158,000 after acquiring an additional 353 shares during the last quarter. AllSquare Wealth Management LLC raised its position in shares of Tapestry by 35.1% during the third 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. Smithfield Trust Co raised its position in shares of Tapestry by 8.5% during the fourth quarter. Smithfield Trust Co now owns 6,110 shares of the luxury accessories retailer’s stock worth $224,000 after purchasing an additional 480 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of Tapestry by 23.1% during the fourth quarter. Federated Hermes Inc. now owns 2,648 shares of the luxury accessories retailer’s stock valued at $97,000 after purchasing an additional 497 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of TPR opened at $43.38 on Friday. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The company’s fifty day moving average is $41.68 and its 200-day moving average is $40.67. The company has a quick ratio of 5.98, a current ratio of 6.59 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $48.80.

Tapestry (NYSE:TPRGet Free Report) last posted its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.67 by $0.14. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The business’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts expect that Tapestry, Inc. will post 4.22 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Friday, June 7th. Tapestry’s payout ratio is 37.04%.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 2,500 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $42.23, for a total transaction of $105,575.00. Following the transaction, the vice president now owns 37,173 shares in the company, valued at $1,569,815.79. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TPR. Telsey Advisory Group restated an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a report on Thursday, May 9th. Bernstein Bank raised their target price on Tapestry from $46.00 to $48.00 in a research report on Thursday, May 9th. Robert W. Baird dropped their price target on Tapestry from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Jefferies Financial Group downgraded Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. lowered their target price on Tapestry from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.31.

Get Our Latest Stock Analysis on TPR

About Tapestry

(Free Report)

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.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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