Kingswood Wealth Advisors LLC Purchases New Shares in Tapestry, Inc. (NYSE:TPR)

Kingswood Wealth Advisors LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) during the 1st quarter, HoldingsChannel reports. The institutional investor acquired 5,320 shares of the luxury accessories retailer’s stock, valued at approximately $253,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Tapestry by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 31,554,418 shares of the luxury accessories retailer’s stock valued at $907,190,000 after acquiring an additional 173,111 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Tapestry by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 5,954,829 shares of the luxury accessories retailer’s stock worth $219,197,000 after buying an additional 54,647 shares during the period. Capital Research Global Investors grew its holdings in shares of Tapestry by 77.2% during the fourth 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 in the last quarter. Ninety One UK Ltd raised 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 valued at $195,877,000 after buying an additional 597,715 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Tapestry by 28.2% in the 3rd 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 in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on TPR shares. OTR Global reaffirmed a “mixed” rating on shares of Tapestry in a research note on Wednesday, April 17th. StockNews.com upgraded shares of Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Argus reissued a “buy” rating and set a $52.00 target price on shares of Tapestry in a research note on Tuesday, June 18th. JPMorgan Chase & Co. dropped their price target on shares of Tapestry from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Finally, Bernstein Bank lifted their price objective on Tapestry from $46.00 to $48.00 in a research report on Thursday, May 9th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.53.

Tapestry Stock Performance

Shares of TPR opened at $42.79 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 one year low of $25.99 and a one year high of $48.80. The company’s fifty day moving average price is $41.54 and its 200 day moving average price is $41.74. The company has a market capitalization of $9.83 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 0.91 and a beta of 1.60.

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

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were paid a $0.35 dividend. The ex-dividend date was Friday, June 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.27%. Tapestry’s payout ratio is 37.04%.

Insider Buying and Selling

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

About Tapestry

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.