115,918 Shares in Tapestry, Inc. (NYSE:TPR) Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 115,918 shares of the luxury accessories retailer’s stock, valued at approximately $5,446,000. Assenagon Asset Management S.A. owned 0.05% of Tapestry at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TPR. Mather Group LLC. boosted its stake in shares of Tapestry by 12.9% during the 2nd quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock worth $104,000 after purchasing an additional 249 shares during the period. Legend Financial Advisors Inc. lifted its stake in Tapestry by 1.9% in the second quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock worth $581,000 after purchasing an additional 257 shares during the last quarter. Empirical Finance LLC boosted its position in shares of Tapestry by 3.3% during the first quarter. Empirical Finance LLC now owns 8,742 shares of the luxury accessories retailer’s stock valued at $415,000 after buying an additional 276 shares during the period. GAMMA Investing LLC grew its stake in shares of Tapestry by 4.8% during the third quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock valued at $286,000 after buying an additional 280 shares during the last quarter. Finally, MUFG Securities EMEA plc raised its holdings in shares of Tapestry by 34.9% in the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after buying an additional 317 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Trading Down 2.9 %

Shares of NYSE TPR opened at $49.02 on Wednesday. The business has a fifty day moving average price of $43.91 and a 200 day moving average price of $42.00. Tapestry, Inc. has a 1-year low of $25.99 and a 1-year high of $51.96. The company has a debt-to-equity ratio of 2.39, a current ratio of 5.14 and a quick ratio of 4.66. The stock has a market capitalization of $11.26 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 1.67 and a beta of 1.53.

Tapestry (NYSE:TPR) last released its quarterly earnings results 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 business had revenue of $1.59 billion during 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%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. Equities research analysts expect that Tapestry, Inc. will post 4.47 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared 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 2.86%. The ex-dividend date was Friday, September 6th. Tapestry’s payout ratio is presently 37.04%.

Analyst Upgrades and Downgrades

TPR has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. TD Cowen downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a research note on Tuesday. Evercore ISI boosted their price objective on shares of Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Monday. Finally, The Goldman Sachs Group boosted their price target on Tapestry from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, October 21st. Six 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, the stock has an average rating of “Moderate Buy” and an average target price of $51.75.

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.