Kingswood Wealth Advisors LLC Invests $253,000 in Tapestry, Inc. (NYSE:TPR)

Kingswood Wealth Advisors LLC acquired a new stake in Tapestry, Inc. (NYSE:TPR) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,320 shares of the luxury accessories retailer’s stock, valued at approximately $253,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPR. Benjamin F. Edwards & Company Inc. acquired a new position in Tapestry during the fourth quarter worth about $117,000. Raymond James Financial Services Advisors Inc. grew its position in shares of Tapestry by 9.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 285,989 shares of the luxury accessories retailer’s stock valued at $10,527,000 after purchasing an additional 23,532 shares in the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Tapestry in the fourth quarter valued at approximately $1,107,000. Goldman Sachs Group Inc. lifted its position in Tapestry by 41.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,272,950 shares of the luxury accessories retailer’s stock worth $46,857,000 after buying an additional 371,724 shares in the last quarter. Finally, FCF Advisors LLC acquired a new position in Tapestry during the fourth quarter worth $1,013,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of TPR opened at $42.79 on Friday. Tapestry, Inc. has a 1 year low of $25.99 and a 1 year high of $48.80. The stock has a market capitalization of $9.83 billion, a PE ratio of 11.32, a PEG ratio of 0.91 and a beta of 1.60. The company has a debt-to-equity ratio of 2.77, a quick ratio of 5.98 and a current ratio of 6.59. The stock has a 50-day simple moving average of $41.54 and a 200-day simple moving average of $41.74.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. On average, analysts predict that Tapestry, Inc. will post 4.22 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Friday, June 7th. Tapestry’s dividend payout ratio is presently 37.04%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. Robert W. Baird dropped their price target on shares of Tapestry from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Telsey Advisory Group restated an “outperform” rating and set a $54.00 price target on shares of Tapestry in a report on Thursday, May 9th. OTR Global reiterated a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. Finally, Argus reissued a “buy” rating and set a $52.00 target price on shares of Tapestry in a research note on Tuesday, June 18th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.53.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $42.23, for a total transaction of $105,575.00. Following the sale, the vice president now owns 37,173 shares of the company’s stock, valued at approximately $1,569,815.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.93% of the stock is owned by company insiders.

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.