Tapestry, Inc. (NYSE:TPR) Position Lifted by Aigen Investment Management LP

Aigen Investment Management LP increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 64.5% in the third quarter, HoldingsChannel reports. The firm owned 107,852 shares of the luxury accessories retailer’s stock after buying an additional 42,274 shares during the period. Tapestry makes up approximately 1.0% of Aigen Investment Management LP’s investment portfolio, making the stock its 4th largest position. Aigen Investment Management LP’s holdings in Tapestry were worth $5,067,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Waldron Private Wealth LLC purchased a new stake in shares of Tapestry during the third quarter valued at about $25,000. Massmutual Trust Co. FSB ADV raised its stake in shares of 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 acquiring an additional 328 shares in the last quarter. Blue Trust Inc. lifted its position in 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 last quarter. MUFG Securities EMEA plc boosted its stake in Tapestry by 34.9% in the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after acquiring an additional 317 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new position in Tapestry in the second quarter worth $53,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TPR shares. Evercore ISI raised their price objective on Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. The Goldman Sachs Group increased their price target on Tapestry from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Raymond James restated an “outperform” rating and set a $57.00 price target (up previously from $55.00) on shares of Tapestry in a research note on Friday. Telsey Advisory Group reiterated an “outperform” rating and issued a $54.00 target price on shares of Tapestry in a research note on Thursday, November 7th. Finally, Citigroup upped their price target on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Tapestry Price Performance

NYSE TPR traded down $0.95 during trading hours on Tuesday, hitting $50.57. 857,131 shares of the company’s stock traded hands, compared to its average volume of 3,290,418. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.66. The firm’s 50-day moving average is $45.49 and its 200-day moving average is $42.59. Tapestry, Inc. has a 52-week low of $27.91 and a 52-week high of $52.76. The company has a market capitalization of $11.77 billion, a PE ratio of 14.90, a PEG ratio of 1.94 and a beta of 1.53.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. Tapestry had a return on equity of 36.26% and a net margin of 12.12%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities analysts forecast that Tapestry, Inc. will post 4.54 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a $0.35 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.77%. Tapestry’s dividend payout ratio (DPR) is 40.46%.

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.