Capital Performance Advisors LLP Acquires 1,461 Shares of Tapestry, Inc. (NYSE:TPR)

Capital Performance Advisors LLP lifted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 28.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,621 shares of the luxury accessories retailer’s stock after acquiring an additional 1,461 shares during the period. Capital Performance Advisors LLP’s holdings in Tapestry were worth $433,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Waldron Private Wealth LLC bought a new position in shares of Tapestry during the 3rd quarter worth about $25,000. Brooklyn Investment Group acquired a new stake in shares of Tapestry during the 3rd quarter worth about $47,000. UMB Bank n.a. increased its position in shares of Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after purchasing an additional 496 shares in the last quarter. Deseret Mutual Benefit Administrators increased its position in shares of Tapestry by 68.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after purchasing an additional 605 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. increased its position in shares of Tapestry by 159,100.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after purchasing an additional 1,591 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TPR shares. Guggenheim increased their target price on shares of Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. BMO Capital Markets increased their target price on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 18th. Raymond James reiterated an “outperform” rating and set a $88.00 target price (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Robert W. Baird increased their target price on shares of Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Finally, StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Saturday. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.78.

Tapestry Stock Up 1.2 %

Shares of NYSE:TPR opened at $87.68 on Monday. Tapestry, Inc. has a one year low of $35.23 and a one year high of $88.07. The company has a 50 day moving average of $70.11 and a 200-day moving average of $55.00. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 4.38. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 2.30 and a beta of 1.58.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the previous year, the business posted $1.63 earnings per share. On average, sell-side analysts forecast that Tapestry, Inc. will post 4.7 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.60%. The ex-dividend date is Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

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.