Tapestry, Inc. (NYSE:TPR) Stake Raised by Cetera Investment Advisers

Cetera Investment Advisers boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 4.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,669 shares of the luxury accessories retailer’s stock after acquiring an additional 2,513 shares during the quarter. Cetera Investment Advisers’ holdings in Tapestry were worth $2,382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Capital Research Global Investors boosted its holdings in shares of Tapestry by 8.5% during the first quarter. Capital Research Global Investors now owns 6,238,670 shares of the luxury accessories retailer’s stock worth $296,212,000 after purchasing an additional 489,933 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Tapestry by 53.1% during the 2nd quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock valued at $257,623,000 after buying an additional 2,087,586 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Tapestry by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock valued at $151,965,000 after acquiring an additional 165,406 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Tapestry by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer’s stock worth $116,928,000 after acquiring an additional 46,760 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Tapestry by 235.9% in the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock worth $61,578,000 after acquiring an additional 1,051,743 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TPR shares. Evercore ISI dropped their target price on Tapestry from $53.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. UBS Group cut their price objective on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. 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 report on Tuesday, August 6th. JPMorgan Chase & Co. cut their price target on shares of Tapestry from $54.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Finally, Wells Fargo & Company decreased their price objective on shares of Tapestry from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.07.

Tapestry Stock Performance

TPR opened at $45.27 on Friday. The company has a quick ratio of 4.66, a current ratio of 5.14 and a debt-to-equity ratio of 2.39. The stock’s 50 day moving average price is $42.06 and its two-hundred day moving average price is $41.88. The firm has a market capitalization of $10.40 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 1.67 and a beta of 1.53. Tapestry, Inc. has a 12-month low of $25.99 and a 12-month high of $48.80.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. Tapestry’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 earnings per share. On average, equities analysts forecast that Tapestry, Inc. will post 4.47 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, September 6th. Tapestry’s dividend payout ratio is currently 37.04%.

Tapestry Company 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.