Tapestry, Inc. (NYSE:TPR) Position Boosted by Northern Trust Corp

Northern Trust Corp grew its holdings in Tapestry, Inc. (NYSE:TPRFree Report) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,188,088 shares of the luxury accessories retailer’s stock after purchasing an additional 152,508 shares during the period. Northern Trust Corp owned approximately 1.40% of Tapestry worth $91,658,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Tapestry by 2.4% in the first quarter. Vanguard Group Inc. now owns 32,654,335 shares of the luxury accessories retailer’s stock valued at $1,213,109,000 after purchasing an additional 751,210 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Tapestry by 1.3% during the second quarter. BlackRock Inc. now owns 16,365,540 shares of the luxury accessories retailer’s stock worth $700,445,000 after acquiring an additional 210,261 shares in the last quarter. FMR LLC raised its holdings in shares of Tapestry by 2.0% during the third quarter. FMR LLC now owns 14,018,492 shares of the luxury accessories retailer’s stock worth $403,032,000 after acquiring an additional 280,959 shares in the last quarter. State Street Corp raised its holdings in shares of Tapestry by 1.7% during the second quarter. State Street Corp now owns 9,588,682 shares of the luxury accessories retailer’s stock worth $410,396,000 after acquiring an additional 160,015 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Tapestry by 1.6% during the second quarter. Franklin Resources Inc. now owns 8,461,191 shares of the luxury accessories retailer’s stock worth $362,139,000 after acquiring an additional 136,110 shares in the last quarter. Hedge funds and other institutional investors own 92.12% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of several recent research reports. Telsey Advisory Group reiterated an “outperform” rating and set a $49.00 price objective on shares of Tapestry in a report on Thursday, February 8th. JPMorgan Chase & Co. lowered their target price on shares of Tapestry from $56.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, November 13th. Wells Fargo & Company increased their target price on shares of Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Raymond James increased their target price on shares of Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Finally, BMO Capital Markets lowered their target price on shares of Tapestry from $43.00 to $39.00 and set a “market perform” rating on the stock in a research report on Friday, November 10th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.50.

View Our Latest Stock Analysis on TPR

Tapestry Stock Down 0.2 %

NYSE TPR opened at $47.53 on Wednesday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25. The firm has a 50-day simple moving average of $39.97 and a 200 day simple moving average of $33.98. Tapestry, Inc. has a twelve month low of $25.99 and a twelve month high of $48.80. The stock has a market cap of $10.90 billion, a PE ratio of 12.00, a PEG ratio of 0.99 and a beta of 1.51.

Tapestry (NYSE:TPRGet Free Report) last released its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.17. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the company earned $1.36 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. On average, research analysts forecast that Tapestry, Inc. will post 4.25 EPS for the current year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Investors of record on Friday, March 8th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, March 7th. Tapestry’s payout ratio is presently 35.35%.

About Tapestry

(Free Report)

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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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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