Tapestry, Inc. (NYSE:TPR) Shares Acquired by Blair William & Co. IL

Blair William & Co. IL increased its stake in Tapestry, Inc. (NYSE:TPR) by 21.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,526 shares of the luxury accessories retailer’s stock after acquiring an additional 986 shares during the quarter. Blair William & Co. IL’s holdings in Tapestry were worth $236,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. CWM LLC grew its holdings in shares of Tapestry by 0.9% in the 1st quarter. CWM LLC now owns 26,859 shares of the luxury accessories retailer’s stock worth $1,275,000 after acquiring an additional 237 shares during the last quarter. Mather Group LLC. grew its holdings in shares of Tapestry by 12.9% in the 2nd quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock worth $104,000 after acquiring an additional 249 shares during the last quarter. Legend Financial Advisors Inc. grew its holdings in shares of Tapestry by 1.9% in the 2nd quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock worth $581,000 after acquiring an additional 257 shares during the last quarter. Empirical Finance LLC grew its holdings in shares of Tapestry by 3.3% in the 1st quarter. Empirical Finance LLC now owns 8,742 shares of the luxury accessories retailer’s stock worth $415,000 after acquiring an additional 276 shares during the last quarter. Finally, MUFG Securities EMEA plc grew its holdings in shares of Tapestry by 34.9% during the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after buying an additional 317 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup lowered their price target on Tapestry from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. UBS Group lowered their price target on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday. Telsey Advisory Group reiterated an “outperform” rating and set a $54.00 price target on shares of Tapestry in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lowered their price target on Tapestry from $54.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, August 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.07.

Tapestry Stock Performance

TPR opened at $47.93 on Friday. The company has a market cap of $11.01 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.64 and a beta of 1.54. The stock has a 50-day moving average of $40.94 and a 200-day moving average of $42.00. Tapestry, Inc. has a 52-week low of $25.99 and a 52-week high of $48.80. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the company posted $0.95 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts forecast that Tapestry, Inc. will post 4.47 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, September 6th. This represents a $1.40 annualized dividend and a yield of 2.92%. Tapestry’s payout ratio is 37.04%.

About Tapestry

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.