1,932 Shares in Tapestry, Inc. (NYSE:TPR) Purchased by Mather Group LLC.

Mather Group LLC. bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the 1st quarter, Holdings Channel.com reports. The fund bought 1,932 shares of the luxury accessories retailer’s stock, valued at approximately $92,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Tapestry by 0.6% in the third quarter. Vanguard Group Inc. now owns 31,554,418 shares of the luxury accessories retailer’s stock valued at $907,190,000 after purchasing an additional 173,111 shares during the last quarter. Franklin Resources Inc. lifted its stake in Tapestry by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 5,954,829 shares of the luxury accessories retailer’s stock valued at $219,197,000 after buying an additional 54,647 shares in the last quarter. Capital Research Global Investors grew its holdings in Tapestry by 77.2% during the 4th quarter. Capital Research Global Investors now owns 5,748,737 shares of the luxury accessories retailer’s stock valued at $211,611,000 after buying an additional 2,504,135 shares during the last quarter. Ninety One UK Ltd increased its position in Tapestry by 12.7% during the fourth quarter. Ninety One UK Ltd now owns 5,321,308 shares of the luxury accessories retailer’s stock worth $195,877,000 after buying an additional 597,715 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Tapestry by 28.2% in the third quarter. Ameriprise Financial Inc. now owns 5,249,047 shares of the luxury accessories retailer’s stock worth $150,916,000 after acquiring an additional 1,154,808 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the subject of a number of recent research reports. Argus reiterated a “buy” rating and set a $52.00 price objective on shares of Tapestry in a research report on Tuesday. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a report on Thursday, February 29th. Robert W. Baird reduced their price objective on shares of Tapestry from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. OTR Global reaffirmed a “mixed” rating on shares of Tapestry in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. cut their price target on Tapestry from $56.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.53.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 2,500 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $42.23, for a total value of $105,575.00. Following the completion of the sale, the vice president now owns 37,173 shares of the company’s stock, valued at $1,569,815.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.93% of the stock is owned by insiders.

Tapestry Stock Performance

NYSE TPR opened at $41.63 on Friday. 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 1-year low of $25.99 and a 1-year high of $48.80. The firm has a market capitalization of $9.56 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.89 and a beta of 1.60. The business’s 50-day simple moving average is $41.39 and its 200-day simple moving average is $41.43.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.14. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the company posted $0.78 earnings per share. Tapestry’s revenue was down 2.0% compared to the same quarter last year. Equities analysts predict that Tapestry, Inc. will post 4.22 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.36%. Tapestry’s dividend payout ratio (DPR) 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.