TD Asset Management Inc Increases Stock Position in Tapestry, Inc. (NYSE:TPR)

TD Asset Management Inc grew its position in Tapestry, Inc. (NYSE:TPR) by 5.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,206 shares of the luxury accessories retailer’s stock after purchasing an additional 6,000 shares during the period. TD Asset Management Inc’s holdings in Tapestry were worth $4,844,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TPR. Fidelis Capital Partners LLC purchased a new stake in Tapestry during the first quarter worth about $35,000. BNP Paribas bought a new position in shares of Tapestry in the first quarter valued at approximately $38,000. Massmutual Trust Co. FSB ADV boosted its position in shares of 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 acquiring an additional 328 shares during the period. Blue Trust Inc. boosted its position in shares of Tapestry by 111.9% in the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after acquiring an additional 556 shares during the period. Finally, MUFG Securities EMEA plc raised its stake in Tapestry by 34.9% in the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after purchasing an additional 317 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TPR shares. Evercore ISI lowered their target price on shares of Tapestry from $53.00 to $47.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target 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. UBS Group decreased their price target on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Finally, Argus reissued a “buy” rating and set a $52.00 price target on shares of Tapestry in a research note on Tuesday, June 18th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.13.

Tapestry Stock Performance

NYSE:TPR opened at $41.75 on Thursday. The stock has a market cap of $9.59 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.50 and a beta of 1.54. The firm’s fifty day simple moving average is $40.43 and its 200 day simple moving average is $42.22. Tapestry, Inc. has a twelve month low of $25.99 and a twelve month high of $48.80. The company has a quick ratio of 4.66, a current ratio of 5.14 and a debt-to-equity ratio of 2.39.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 earnings per share. As a group, research analysts predict that Tapestry, Inc. will post 4.47 EPS for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.35%. The ex-dividend date is Friday, September 6th. Tapestry’s dividend payout ratio (DPR) is currently 37.04%.

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.