Tapestry, Inc. (NYSE:TPR) Shares Purchased by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC boosted its position in shares of Tapestry, Inc. (NYSE:TPR) by 13.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,887 shares of the luxury accessories retailer’s stock after buying an additional 4,505 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Tapestry were worth $1,780,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new stake in Tapestry in the 1st quarter worth $35,000. BNP Paribas purchased a new stake in shares of Tapestry during the first quarter worth about $38,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Tapestry by 54.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after purchasing an additional 328 shares in the last quarter. Blue Trust Inc. raised its position in shares of Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after purchasing an additional 556 shares during the last quarter. Finally, MUFG Securities EMEA plc lifted its stake in Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after buying an additional 317 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 0.1 %

Shares of Tapestry stock opened at $45.15 on Monday. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14. The firm has a market capitalization of $10.37 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 1.67 and a beta of 1.53. The stock has a 50 day moving average of $42.87 and a 200 day moving average of $41.81.

Tapestry (NYSE:TPR) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company earned $0.95 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, research analysts predict that Tapestry, Inc. will post 4.47 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were issued a $0.35 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.40 annualized dividend and a dividend yield of 3.10%. Tapestry’s dividend payout ratio is currently 37.04%.

Analyst Ratings Changes

A number of brokerages have commented on TPR. Telsey Advisory Group reissued an “outperform” rating and set a $54.00 target price on shares of Tapestry in a report on Thursday, August 15th. UBS Group reduced their price objective on Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. lowered their target price on shares of Tapestry from $54.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Evercore ISI reduced their target price on shares of Tapestry from $53.00 to $47.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Wells Fargo & Company lowered their price target on shares of Tapestry from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.07.

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.