AlTi Global Inc. bought a new stake in Tapestry, Inc. (NYSE:TPR – Free Report) during the 2nd quarter, HoldingsChannel reports. The fund bought 100,156 shares of the luxury accessories retailer’s stock, valued at approximately $4,286,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new stake in shares of Tapestry in the first quarter valued at about $35,000. BNP Paribas purchased a new stake in shares of Tapestry in the first quarter valued at about $38,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Tapestry by 54.0% in the second 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 holdings in Tapestry by 3,778.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock worth $46,000 after buying an additional 1,209 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after buying an additional 556 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.
Tapestry Stock Performance
NYSE:TPR opened at $45.39 on Wednesday. The firm has a 50 day simple moving average of $40.64 and a 200-day simple moving average of $41.93. 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 firm has a market cap of $10.45 billion, a PE ratio of 12.01, a P/E/G ratio of 1.64 and a beta of 1.54. Tapestry, Inc. has a 1-year low of $25.99 and a 1-year high of $48.80.
Tapestry Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, September 6th. Tapestry’s dividend payout ratio is presently 37.04%.
Analyst Ratings Changes
A number of research firms recently commented on TPR. Telsey Advisory Group reissued an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a report on Thursday, August 15th. JPMorgan Chase & Co. decreased their price objective 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. Evercore ISI decreased their price objective on shares of Tapestry from $53.00 to $47.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Citigroup decreased their price objective on shares of Tapestry from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Wells Fargo & Company decreased their price objective 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. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.07.
Check Out Our Latest Stock Report on TPR
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.
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