Tapestry, Inc. (NYSE:TPR) Shares Bought by MGO One Seven LLC

MGO One Seven LLC grew its holdings in Tapestry, Inc. (NYSE:TPR) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,529 shares of the luxury accessories retailer’s stock after purchasing an additional 1,195 shares during the quarter. MGO One Seven LLC’s holdings in Tapestry were worth $2,890,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TPR. Charles Schwab Investment Management Inc. boosted its stake in Tapestry by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,972,221 shares of the luxury accessories retailer’s stock worth $72,597,000 after buying an additional 30,341 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Tapestry in the fourth quarter valued at about $57,000. Dimensional Fund Advisors LP grew its holdings in shares of Tapestry by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,305,257 shares of the luxury accessories retailer’s stock valued at $121,671,000 after purchasing an additional 140,347 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Tapestry by 4.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,003 shares of the luxury accessories retailer’s stock worth $479,000 after purchasing an additional 564 shares during the last quarter. Finally, Ieq Capital LLC purchased a new position in Tapestry during the fourth quarter worth about $391,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. UBS Group cut their price objective on Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. JPMorgan Chase & Co. decreased their target price on shares of Tapestry from $54.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Evercore ISI reduced their price target on shares of Tapestry from $53.00 to $47.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, Argus reiterated a “buy” rating and issued a $52.00 target price on shares of Tapestry in a report on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.13.

Tapestry Trading Up 1.4 %

TPR opened at $41.75 on Thursday. The business’s 50-day simple moving average is $40.43 and its 200-day simple moving average is $42.22. The company has a market cap of $9.59 billion, a P/E ratio of 11.04, a PEG ratio of 1.50 and a beta of 1.54. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14.

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

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, September 6th. Tapestry’s payout ratio is currently 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.