4,127 Shares in Tapestry, Inc. (NYSE:TPR) Bought by Claro Advisors LLC

Claro Advisors LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,127 shares of the luxury accessories retailer’s stock, valued at approximately $194,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC raised its stake in Tapestry by 6.2% in the third quarter. V Square Quantitative Management LLC now owns 6,142 shares of the luxury accessories retailer’s stock valued at $289,000 after buying an additional 357 shares during the last quarter. Secure Asset Management LLC raised its stake in Tapestry by 20.5% in the third quarter. Secure Asset Management LLC now owns 36,892 shares of the luxury accessories retailer’s stock valued at $1,733,000 after buying an additional 6,282 shares during the last quarter. Bleakley Financial Group LLC purchased a new stake in Tapestry in the third quarter valued at about $220,000. Vontobel Holding Ltd. raised its stake in Tapestry by 4.4% in the third quarter. Vontobel Holding Ltd. now owns 18,646 shares of the luxury accessories retailer’s stock valued at $876,000 after buying an additional 789 shares during the last quarter. Finally, Swedbank AB raised its stake in Tapestry by 9.2% in the third quarter. Swedbank AB now owns 1,092,260 shares of the luxury accessories retailer’s stock valued at $51,314,000 after buying an additional 92,458 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TPR has been the topic of a number of research reports. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. Wells Fargo & Company cut their price objective on Tapestry from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Evercore ISI cut their price objective on Tapestry from $53.00 to $47.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Telsey Advisory Group reissued an “outperform” rating and issued a $54.00 price objective on shares of Tapestry in a report on Thursday, August 15th. Finally, Citigroup cut their price objective on Tapestry from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.07.

Tapestry Stock Performance

Shares of TPR stock opened at $45.15 on Monday. The company has a market capitalization of $10.37 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.67 and a beta of 1.53. The business’s 50 day moving average is $42.87 and its two-hundred day moving average is $41.81. 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, Inc. has a 12-month low of $25.99 and a 12-month high of $48.80.

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. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. Tapestry’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 earnings per share. Analysts expect that Tapestry, Inc. will post 4.47 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.40 dividend on an annualized basis and a yield of 3.10%. Tapestry’s dividend payout ratio is currently 37.04%.

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.