Winslow Asset Management Inc. Grows Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Winslow Asset Management Inc. increased its position in Tapestry, Inc. (NYSE:TPR) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 112,922 shares of the luxury accessories retailer’s stock after buying an additional 277 shares during the period. Winslow Asset Management Inc.’s holdings in Tapestry were worth $5,305,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Bessemer Group Inc. grew its position in shares of Tapestry by 1,328.8% during the first quarter. Bessemer Group Inc. now owns 30,148 shares of the luxury accessories retailer’s stock worth $1,432,000 after purchasing an additional 28,038 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Tapestry during the second quarter valued at approximately $3,718,000. Lazard Asset Management LLC raised its position in shares of Tapestry by 611.8% during the first quarter. Lazard Asset Management LLC now owns 63,617 shares of the luxury accessories retailer’s stock valued at $3,019,000 after buying an additional 54,679 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of Tapestry in the first quarter worth $54,055,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Tapestry during the first quarter worth $1,546,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TPR. Bank of America lifted their price target on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 25th. Evercore ISI boosted their target price on Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Raymond James restated an “outperform” rating and set a $57.00 price target (up previously from $55.00) on shares of Tapestry in a report on Friday. TD Cowen cut Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a report on Tuesday, October 29th. Finally, UBS Group lowered their target price on Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.00.

Tapestry Price Performance

TPR stock opened at $51.55 on Tuesday. The stock has a market cap of $12.00 billion, a PE ratio of 14.90, a P/E/G ratio of 1.94 and a beta of 1.53. Tapestry, Inc. has a 12 month low of $27.91 and a 12 month high of $52.76. The company has a 50-day moving average price of $45.49 and a 200 day moving average price of $42.59. The company has a current ratio of 4.93, a quick ratio of 4.66 and a debt-to-equity ratio of 2.35.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the business earned $0.95 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities research analysts anticipate that Tapestry, Inc. will post 4.54 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.72%. Tapestry’s payout ratio 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.