EverSource Wealth Advisors LLC Has $562,000 Stock Position in Tapestry, Inc. (NYSE:TPR)

EverSource Wealth Advisors LLC boosted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 509.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,026 shares of the luxury accessories retailer’s stock after buying an additional 11,725 shares during the period. EverSource Wealth Advisors LLC’s holdings in Tapestry were worth $562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. ProShare Advisors LLC increased its position in shares of Tapestry by 35.1% in the second quarter. ProShare Advisors LLC now owns 50,645 shares of the luxury accessories retailer’s stock worth $2,167,000 after acquiring an additional 13,163 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Tapestry by 41.5% in the 2nd quarter. Westwood Holdings Group Inc. now owns 541,896 shares of the luxury accessories retailer’s stock valued at $23,188,000 after acquiring an additional 158,927 shares in the last quarter. Summit Trail Advisors LLC acquired a new position in Tapestry in the 2nd quarter worth approximately $686,000. Pacer Advisors Inc. grew its position in Tapestry by 53.1% during the 2nd quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock worth $257,623,000 after purchasing an additional 2,087,586 shares in the last quarter. Finally, Kendall Capital Management raised its stake in Tapestry by 16.2% during the 2nd quarter. Kendall Capital Management now owns 12,165 shares of the luxury accessories retailer’s stock valued at $521,000 after purchasing an additional 1,700 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Up 3.6 %

Tapestry stock opened at $44.12 on Tuesday. 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 1-year low of $25.99 and a 1-year high of $48.80. The firm’s fifty day simple moving average is $40.59 and its 200-day simple moving average is $41.94. The company has a market capitalization of $10.14 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.55 and a beta of 1.54.

Tapestry (NYSE:TPR) last posted its 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 company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. Sell-side analysts forecast that Tapestry, Inc. will post 4.47 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.40 annualized dividend and a yield of 3.17%. Tapestry’s dividend payout ratio (DPR) is presently 37.04%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TPR shares. StockNews.com cut Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Telsey Advisory Group restated an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a research report on Thursday, August 15th. Evercore ISI dropped their target price on Tapestry from $53.00 to $47.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. decreased 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, Wells Fargo & Company lowered their price objective on shares of Tapestry from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.07.

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.