Tapestry, Inc. (NYSE:TPR) Shares Acquired by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC lifted its position in shares of Tapestry, Inc. (NYSE:TPR) by 2.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,813 shares of the luxury accessories retailer’s stock after purchasing an additional 215 shares during the period. Lebenthal Global Advisors LLC’s holdings in Tapestry were worth $367,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Waldron Private Wealth LLC purchased a new stake in Tapestry during the 3rd quarter worth $25,000. Fidelis Capital Partners LLC purchased a new stake in Tapestry during the 1st quarter worth $35,000. BNP Paribas purchased a new stake in Tapestry during the 1st quarter worth $38,000. Massmutual Trust Co. FSB ADV boosted its position in Tapestry by 54.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after purchasing an additional 328 shares during the period. Finally, Blue Trust Inc. boosted its position in Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after purchasing an additional 556 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Price Performance

Shares of NYSE:TPR opened at $46.97 on Friday. The firm’s 50 day moving average is $44.31 and its two-hundred day moving average is $42.13. Tapestry, Inc. has a 52 week low of $26.95 and a 52 week high of $51.96. The firm has a market capitalization of $10.93 billion, a P/E ratio of 13.38, a PEG ratio of 1.80 and a beta of 1.53. The company has a current ratio of 5.14, a quick ratio of 4.66 and a debt-to-equity ratio of 2.39.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business earned $0.95 earnings per share. Tapestry’s revenue was down 1.8% compared to the same quarter last year. Analysts anticipate that Tapestry, Inc. will post 4.46 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Friday, September 6th. Tapestry’s dividend payout ratio (DPR) is presently 39.89%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TPR shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 price target on shares of Tapestry in a research report on Thursday, August 15th. Citigroup upped their price objective on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Wells Fargo & Company upped their price objective on shares of Tapestry from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Tapestry Company 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.