10,385 Shares in Tapestry, Inc. (NYSE:TPR) Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, Holdings Channel reports. The firm bought 10,385 shares of the luxury accessories retailer’s stock, valued at approximately $444,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC boosted its stake in shares of Tapestry by 49.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,491 shares of the luxury accessories retailer’s stock worth $460,000 after buying an additional 4,138 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Tapestry by 16.8% during the 4th quarter. TD Asset Management Inc now owns 119,306 shares of the luxury accessories retailer’s stock valued at $4,392,000 after purchasing an additional 17,122 shares during the period. Stifel Financial Corp grew its stake in shares of Tapestry by 33.0% during the 4th quarter. Stifel Financial Corp now owns 152,611 shares of the luxury accessories retailer’s stock valued at $5,618,000 after purchasing an additional 37,828 shares during the period. KBC Group NV purchased a new stake in shares of Tapestry during the 4th quarter valued at about $144,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Tapestry by 48.2% in the 4th quarter. Jones Financial Companies Lllp now owns 3,310 shares of the luxury accessories retailer’s stock worth $122,000 after purchasing an additional 1,077 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 2.0 %

TPR stock opened at $46.98 on Tuesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 5.14 and a quick ratio of 4.66. Tapestry, Inc. has a 1-year low of $25.99 and a 1-year high of $48.80. The business has a 50 day simple moving average of $41.05 and a two-hundred day simple moving average of $41.92. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.64 and a beta of 1.54.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The firm 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%. Tapestry’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. Research analysts anticipate that Tapestry, Inc. will post 4.47 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were given a $0.35 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.98%. Tapestry’s dividend payout ratio is currently 37.04%.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of research reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 target price on shares of Tapestry in a report on Thursday, August 15th. Argus restated a “buy” rating and issued a $52.00 price objective on shares of Tapestry in a research note on Tuesday, June 18th. JPMorgan Chase & Co. lowered their target price on Tapestry from $54.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Wells Fargo & Company reduced their price target on Tapestry from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Finally, Evercore ISI lowered their price objective on Tapestry from $53.00 to $47.00 and set an “outperform” rating on the stock in a research report 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 data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $47.07.

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.