CWA Asset Management Group LLC Takes Position in Tapestry, Inc. (NYSE:TPR)

CWA Asset Management Group LLC bought a new position in Tapestry, Inc. (NYSE:TPR) in the third quarter, Holdings Channel.com reports. The firm bought 59,275 shares of the luxury accessories retailer’s stock, valued at approximately $2,785,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Waldron Private Wealth LLC acquired a new position in shares of Tapestry in the third quarter valued at about $25,000. Massmutual Trust Co. FSB ADV boosted its position in Tapestry by 54.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after buying an additional 328 shares during the last quarter. Blue Trust Inc. increased its holdings in Tapestry by 111.9% in the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after buying an additional 556 shares during the period. MUFG Securities EMEA plc raised its position in Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after buying an additional 317 shares during the last quarter. Finally, Chilton Capital Management LLC acquired a new stake in Tapestry during the 2nd quarter valued at approximately $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TPR. Bank of America increased their price objective on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. TD Cowen downgraded Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a research note on Tuesday, October 29th. Wells Fargo & Company lifted their price target on Tapestry from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, UBS Group lowered their price objective on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.06.

Tapestry Trading Up 1.3 %

TPR stock opened at $52.22 on Friday. The business’s 50-day moving average is $45.28 and its 200 day moving average is $42.49. Tapestry, Inc. has a 12-month low of $27.55 and a 12-month high of $52.50. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.85 and a beta of 1.53. The company has a current ratio of 5.14, a quick ratio of 4.66 and a debt-to-equity ratio of 2.39.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Tapestry, Inc. will post 4.46 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is 39.89%.

Tapestry 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.