Tapestry, Inc. (NYSE:TPR) Stock Position Raised by First Horizon Advisors Inc.

First Horizon Advisors Inc. boosted its holdings in Tapestry, Inc. (NYSE:TPR) by 334.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,504 shares of the luxury accessories retailer’s stock after acquiring an additional 1,158 shares during the period. First Horizon Advisors Inc.’s holdings in Tapestry were worth $55,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bell Investment Advisors Inc raised its position in shares of Tapestry by 718.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after purchasing an additional 833 shares during the period. Allworth Financial LP grew its stake in Tapestry by 62.0% during the 4th quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer’s stock worth $60,000 after buying an additional 620 shares during the last quarter. AllSquare Wealth Management LLC increased its position in Tapestry by 35.1% in the third quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock worth $47,000 after buying an additional 423 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Tapestry by 56.9% during the third quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock valued at $53,000 after acquiring an additional 668 shares during the period. Finally, Wolverine Asset Management LLC acquired a new position in shares of Tapestry during the third quarter valued at $63,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Trading Down 1.2 %

Shares of NYSE:TPR opened at $38.99 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 stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 0.81 and a beta of 1.61. Tapestry, Inc. has a 1-year low of $25.99 and a 1-year high of $48.80. The company has a 50 day moving average price of $43.95 and a 200 day moving average price of $38.62.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.17. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 EPS. On average, research analysts anticipate that Tapestry, Inc. will post 4.23 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.59%. Tapestry’s dividend payout ratio is currently 35.35%.

Wall Street Analyst Weigh In

TPR has been the topic of several recent research reports. OTR Global reiterated a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Jefferies Financial Group lowered Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Thursday, February 29th. Wells Fargo & Company lifted their target price on Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Telsey Advisory Group reissued an “outperform” rating and issued a $54.00 price target on shares of Tapestry in a research note on Wednesday, March 27th. Finally, Raymond James lifted their price objective on shares of Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus target price of $47.81.

About Tapestry

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.