Commonwealth Equity Services LLC Buys 450 Shares of Tapestry, Inc. (NYSE:TPR)

Commonwealth Equity Services LLC lifted its stake in Tapestry, Inc. (NYSE:TPR) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,272 shares of the luxury accessories retailer’s stock after purchasing an additional 450 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Tapestry were worth $1,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of TPR. Fidelis Capital Partners LLC purchased a new position in Tapestry in the first quarter worth about $35,000. BNP Paribas purchased a new position in Tapestry in the 1st quarter worth approximately $38,000. Massmutual Trust Co. FSB ADV lifted its position in Tapestry by 54.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after acquiring an additional 328 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Tapestry by 3,778.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock valued at $46,000 after purchasing an additional 1,209 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Tapestry by 111.9% in the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after purchasing an additional 556 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Argus reaffirmed a “buy” rating and set a $52.00 price target on shares of Tapestry in a report on Tuesday, June 18th. Wells Fargo & Company dropped their price target on shares of Tapestry from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. decreased their price objective on shares of 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. Finally, Evercore ISI decreased their target price on shares of Tapestry from $53.00 to $47.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.07.

Tapestry Price Performance

Shares of Tapestry stock opened at $42.76 on Friday. The stock has a market cap of $9.84 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.55 and a beta of 1.54. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14. The stock’s fifty day moving average is $40.52 and its 200 day moving average is $42.15. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping 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 return on equity of 37.22% and a net margin of 12.23%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 earnings per share. Sell-side analysts anticipate that Tapestry, Inc. will post 4.47 earnings per share for the current year.

Tapestry Dividend Announcement

The company 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. The ex-dividend date is Friday, September 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.27%. Tapestry’s dividend payout ratio (DPR) is presently 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.