Amalgamated Bank Boosts Stake in Tapestry, Inc. (NYSE:TPR)

Amalgamated Bank raised its holdings in shares of Tapestry, Inc. (NYSE:TPRFree Report) by 18.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,590 shares of the luxury accessories retailer’s stock after purchasing an additional 13,964 shares during the period. Amalgamated Bank’s holdings in Tapestry were worth $2,576,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Advisor Partners II LLC raised its position in Tapestry by 3.0% during the 1st quarter. Advisor Partners II LLC now owns 8,043 shares of the luxury accessories retailer’s stock valued at $347,000 after purchasing an additional 237 shares during the last quarter. Spire Wealth Management raised its position in Tapestry by 56.1% during the 2nd quarter. Spire Wealth Management now owns 687 shares of the luxury accessories retailer’s stock valued at $29,000 after purchasing an additional 247 shares during the last quarter. GeoWealth Management LLC raised its position in Tapestry by 13.7% during the 2nd quarter. GeoWealth Management LLC now owns 2,560 shares of the luxury accessories retailer’s stock valued at $110,000 after purchasing an additional 309 shares during the last quarter. Legacy Capital Group California Inc. raised its position in Tapestry by 2.7% during the 2nd quarter. Legacy Capital Group California Inc. now owns 13,634 shares of the luxury accessories retailer’s stock valued at $584,000 after purchasing an additional 364 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in Tapestry by 25.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,940 shares of the luxury accessories retailer’s stock valued at $73,000 after purchasing an additional 399 shares during the last quarter. Institutional investors own 92.12% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on TPR shares. Wells Fargo & Company upped their price target on Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $38.00 target price on shares of Tapestry in a report on Tuesday, December 12th. Raymond James upped their target price on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. BMO Capital Markets reduced their target price on Tapestry from $43.00 to $39.00 and set a “market perform” rating on the stock in a report on Friday, November 10th. Finally, The Goldman Sachs Group upped their target price on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Friday. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Read Our Latest Stock Report on Tapestry

Tapestry Stock Performance

Shares of TPR opened at $42.00 on Monday. The business’s fifty day simple moving average is $37.15 and its two-hundred day simple moving average is $33.56. The company has a current ratio of 6.25, a quick ratio of 1.23 and a debt-to-equity ratio of 2.90. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $45.72. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 0.86 and a beta of 1.51.

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

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Friday, March 8th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, March 7th. This represents a $1.40 annualized dividend and a yield of 3.33%. Tapestry’s dividend payout ratio is 35.35%.

Tapestry Company Profile

(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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