Signaturefd LLC Buys 1,216 Shares of Tapestry, Inc. (NYSE:TPR)

Signaturefd LLC grew its stake in Tapestry, Inc. (NYSE:TPR) by 89.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,578 shares of the luxury accessories retailer’s stock after acquiring an additional 1,216 shares during the quarter. Signaturefd LLC’s holdings in Tapestry were worth $110,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of TPR. Benjamin F. Edwards & Company Inc. bought a new position in Tapestry in the 4th quarter worth about $117,000. Bessemer Group Inc. lifted its stake in shares of Tapestry by 1,328.8% in the first quarter. Bessemer Group Inc. now owns 30,148 shares of the luxury accessories retailer’s stock worth $1,432,000 after buying an additional 28,038 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Tapestry by 41.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,272,950 shares of the luxury accessories retailer’s stock worth $46,857,000 after buying an additional 371,724 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Tapestry during the second quarter valued at approximately $3,718,000. Finally, Dimensional Fund Advisors LP raised its holdings in Tapestry by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,305,257 shares of the luxury accessories retailer’s stock worth $121,671,000 after acquiring an additional 140,347 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Tapestry from $54.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Telsey Advisory Group restated an “outperform” rating and issued a $54.00 target price on shares of Tapestry in a report on Thursday, August 15th. Citigroup decreased their target price on shares of Tapestry from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Evercore ISI dropped their price target on Tapestry from $53.00 to $47.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $46.13.

Tapestry Trading Up 1.5 %

Shares of NYSE:TPR opened at $41.57 on Wednesday. Tapestry, Inc. has a 12-month low of $25.99 and a 12-month high of $48.80. The company has a market cap of $9.55 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.52 and a beta of 1.59. The stock has a 50 day moving average of $40.47 and a 200 day moving average of $42.44. The company has a current ratio of 5.14, a quick ratio of 4.66 and a debt-to-equity ratio of 2.39.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.95 EPS. As a group, equities research analysts expect that Tapestry, Inc. will post 4.47 EPS for the current year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, September 6th. Tapestry’s dividend payout ratio (DPR) is 37.04%.

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.