Nisa Investment Advisors LLC Purchases 12,752 Shares of Tapestry, Inc. (NYSE:TPR)

Nisa Investment Advisors LLC grew its position in shares of Tapestry, Inc. (NYSE:TPR) by 23.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 67,622 shares of the luxury accessories retailer’s stock after acquiring an additional 12,752 shares during the period. Nisa Investment Advisors LLC’s holdings in Tapestry were worth $3,177,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Waldron Private Wealth LLC bought a new position in shares of Tapestry during the 3rd quarter valued at about $25,000. Fidelis Capital Partners LLC bought a new position in Tapestry during the 1st quarter worth approximately $35,000. BNP Paribas bought a new position in Tapestry during the 1st quarter worth approximately $38,000. Massmutual Trust Co. FSB ADV grew its position in Tapestry by 54.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after acquiring an additional 328 shares during the last quarter. Finally, Blue Trust Inc. grew its position in 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 acquiring an additional 556 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Tapestry Trading Down 1.0 %

TPR opened at $46.97 on Friday. The stock has a market cap of $10.93 billion, a PE ratio of 13.38, a PEG ratio of 1.80 and a beta of 1.53. The company has a quick ratio of 4.66, a current ratio of 5.14 and a debt-to-equity ratio of 2.39. The business has a 50 day moving average of $44.31 and a 200-day moving average of $42.13. Tapestry, Inc. has a 52 week low of $26.95 and a 52 week high of $51.96.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. Equities research analysts predict that Tapestry, Inc. will post 4.46 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Friday, September 6th. Tapestry’s dividend payout ratio (DPR) is 39.89%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on Tapestry from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. TD Cowen lowered Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a research report on Tuesday. UBS Group reduced their price target on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Telsey Advisory Group reiterated an “outperform” rating and issued a $54.00 price objective on shares of Tapestry in a research report on Thursday, August 15th. Finally, StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.75.

Tapestry Company 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.