Baird Financial Group Inc. boosted its position in shares of Tapestry Inc (NYSE:TPR) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,282 shares of the luxury accessories retailer’s stock after purchasing an additional 2,151 shares during the period. Baird Financial Group Inc.’s holdings in Tapestry were worth $3,516,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in TPR. Mackay Shields LLC bought a new position in Tapestry during the 1st quarter valued at about $2,518,000. Robeco Institutional Asset Management B.V. lifted its holdings in Tapestry by 30.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 60,607 shares of the luxury accessories retailer’s stock valued at $3,190,000 after purchasing an additional 14,238 shares during the last quarter. Aperio Group LLC lifted its holdings in Tapestry by 4.3% during the 1st quarter. Aperio Group LLC now owns 155,023 shares of the luxury accessories retailer’s stock valued at $8,156,000 after purchasing an additional 6,363 shares during the last quarter. US Bancorp DE lifted its holdings in Tapestry by 17.2% during the 1st quarter. US Bancorp DE now owns 28,924 shares of the luxury accessories retailer’s stock valued at $1,522,000 after purchasing an additional 4,245 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Tapestry by 450.4% during the 1st quarter. Teacher Retirement System of Texas now owns 425,241 shares of the luxury accessories retailer’s stock valued at $22,372,000 after purchasing an additional 347,975 shares during the last quarter. 90.56% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on TPR shares. Susquehanna Bancshares reaffirmed a “positive” rating and issued a $50.00 target price on shares of Tapestry in a research note on Thursday, June 7th. UBS Group started coverage on shares of Tapestry in a research note on Thursday, June 21st. They issued a “buy” rating and a $62.00 target price for the company. Goldman Sachs Group started coverage on shares of Tapestry in a research note on Monday, June 25th. They issued a “buy” rating and a $56.00 target price for the company. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Tapestry in a research note on Tuesday, July 3rd. Finally, Wells Fargo & Co set a $56.00 target price on shares of Tapestry and gave the stock a “buy” rating in a research note on Monday, July 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $56.71.
Shares of NYSE:TPR opened at $49.96 on Friday. Tapestry Inc has a one year low of $38.70 and a one year high of $55.50. The company has a quick ratio of 1.87, a current ratio of 2.59 and a debt-to-equity ratio of 0.49. The company has a market cap of $14.44 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44.
Tapestry (NYSE:TPR) last issued its quarterly earnings results on Tuesday, August 14th. The luxury accessories retailer reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. Tapestry had a net margin of 6.76% and a return on equity of 24.76%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the company earned $0.50 EPS. Tapestry’s revenue was up 30.9% on a year-over-year basis. equities research analysts forecast that Tapestry Inc will post 2.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 7th will be given a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, September 6th. Tapestry’s dividend payout ratio is 51.33%.
In other news, insider Ian Bickley sold 48,071 shares of Tapestry stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $52.13, for a total transaction of $2,505,941.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ivan Menezes sold 2,068 shares of Tapestry stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $50.70, for a total transaction of $104,847.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,602 shares of company stock valued at $2,633,939. 0.98% of the stock is owned by corporate insiders.
Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.
Read More: Calculate Your Return on Investment (ROI)
Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.