Dimensional Fund Advisors LP Acquires 165,406 Shares of Tapestry, Inc. (NYSE:TPR)

Dimensional Fund Advisors LP grew its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,551,778 shares of the luxury accessories retailer’s stock after acquiring an additional 165,406 shares during the period. Dimensional Fund Advisors LP owned about 1.55% of Tapestry worth $151,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of TPR. Balyasny Asset Management L.P. purchased a new stake in Tapestry in the 4th quarter worth $102,531,000. Capital Research Global Investors boosted its holdings in shares of Tapestry by 77.2% during the 4th quarter. Capital Research Global Investors now owns 5,748,737 shares of the luxury accessories retailer’s stock valued at $211,611,000 after purchasing an additional 2,504,135 shares during the last quarter. Norges Bank bought a new position in shares of Tapestry during the 4th quarter valued at about $79,352,000. Clearbridge Investments LLC bought a new position in shares of Tapestry during the 1st quarter valued at about $54,055,000. Finally, Coronation Fund Managers Ltd. boosted its holdings in shares of Tapestry by 265.1% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 1,044,641 shares of the luxury accessories retailer’s stock valued at $44,700,000 after purchasing an additional 758,539 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Wells Fargo & Company lowered their price target on shares of Tapestry from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Evercore ISI lowered their price target on shares of Tapestry from $53.00 to $47.00 and set an “outperform” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. lowered their price target on shares of Tapestry from $54.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Finally, Citigroup lowered their price target on shares of Tapestry from $50.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $47.07.

Tapestry Stock Performance

Shares of NYSE:TPR opened at $42.57 on Friday. The firm has a market cap of $9.78 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.54. The firm’s 50 day simple moving average is $40.56 and its 200-day simple moving average is $42.00. Tapestry, Inc. has a one year low of $25.99 and a one year 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.

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, beating the consensus estimate of $0.88 by $0.04. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. Tapestry’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company posted $0.95 earnings per share. As a group, equities analysts predict that Tapestry, Inc. will post 4.47 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 6th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.29%. The ex-dividend date is Friday, September 6th. Tapestry’s payout ratio is 37.04%.

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.