Tapestry, Inc. (NYSE:TPR) Shares Purchased by North Growth Management Ltd.

North Growth Management Ltd. grew its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 0.3% in the second quarter, HoldingsChannel reports. The fund owned 289,000 shares of the luxury accessories retailer’s stock after buying an additional 1,000 shares during the period. Tapestry makes up about 2.4% of North Growth Management Ltd.’s portfolio, making the stock its 15th largest holding. North Growth Management Ltd.’s holdings in Tapestry were worth $12,369,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in Tapestry in the first quarter worth about $35,000. BNP Paribas bought a new stake in shares of Tapestry during the 1st quarter worth about $38,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Tapestry by 54.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after acquiring an additional 328 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Tapestry by 3,778.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock valued at $46,000 after acquiring an additional 1,209 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after acquiring an additional 556 shares during the period. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of research reports. Evercore ISI decreased their price target on Tapestry from $53.00 to $47.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Argus reaffirmed a “buy” rating and set a $52.00 target price on shares of Tapestry in a report on Tuesday, June 18th. Wells Fargo & Company dropped their price target on shares of Tapestry from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. UBS Group reduced their price objective on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Finally, Bernstein Bank boosted their target price on shares of Tapestry from $46.00 to $48.00 in a report on Thursday, May 9th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.13.

Tapestry Trading Up 3.7 %

NYSE TPR traded up $1.49 on Friday, hitting $41.66. 2,505,429 shares of the stock were exchanged, compared to its average volume of 3,335,706. The company’s 50-day moving average price is $40.58 and its two-hundred day moving average price is $42.57. The company has a debt-to-equity ratio of 2.77, a current ratio of 6.59 and a quick ratio of 5.98. Tapestry, Inc. has a 52-week low of $25.99 and a 52-week high of $48.80. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 0.79 and a beta of 1.59.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a return on equity of 39.78% and a net margin of 13.15%. Tapestry’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. Research analysts predict that Tapestry, Inc. will post 4.24 EPS for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.36%. Tapestry’s dividend payout ratio is 37.04%.

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.