MMA Asset Management LLC Acquires 3,922 Shares of Tapestry, Inc. (NYSE:TPR)

MMA Asset Management LLC grew its holdings in shares of Tapestry, Inc. (NYSE:TPRFree Report) by 40.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,510 shares of the luxury accessories retailer’s stock after buying an additional 3,922 shares during the quarter. MMA Asset Management LLC’s holdings in Tapestry were worth $497,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bell Investment Advisors Inc grew its stake in shares of Tapestry by 718.1% in the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock valued at $27,000 after buying an additional 833 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Tapestry by 3,778.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock valued at $46,000 after purchasing an additional 1,209 shares during the period. AllSquare Wealth Management LLC raised its holdings in shares of Tapestry by 35.1% in the 3rd quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock valued at $47,000 after purchasing an additional 423 shares during the period. Parkside Financial Bank & Trust lifted its stake in Tapestry by 56.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock valued at $53,000 after purchasing an additional 668 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in Tapestry by 334.7% during the fourth quarter. First Horizon Advisors Inc. now owns 1,504 shares of the luxury accessories retailer’s stock worth $55,000 after purchasing an additional 1,158 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on TPR shares. Bernstein Bank upped their price objective on Tapestry from $46.00 to $48.00 in a research note on Thursday, May 9th. The Goldman Sachs Group lifted their price objective on shares of Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Wells Fargo & Company increased their price objective on shares of Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. OTR Global restated a “mixed” rating on shares of Tapestry in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Tapestry from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.31.

Check Out Our Latest Report on Tapestry

Tapestry Stock Performance

NYSE:TPR traded up $0.94 on Friday, reaching $42.30. 2,294,897 shares of the company’s stock were exchanged, compared to its average volume of 3,593,177. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 0.92 and a beta of 1.61. The stock has a fifty day simple moving average of $42.47 and a 200-day simple moving average of $39.90. Tapestry, Inc. has a 52 week low of $25.99 and a 52 week high of $48.80. The company has a debt-to-equity ratio of 2.77, a current ratio of 6.59 and a quick ratio of 5.98.

Tapestry (NYSE:TPRGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.14. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the company posted $0.78 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts predict that Tapestry, Inc. will post 4.22 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, June 7th. Tapestry’s dividend payout ratio (DPR) is presently 37.04%.

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.

See Also

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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