Tapestry, Inc. (NYSE:TPR) Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its stake in Tapestry, Inc. (NYSE:TPR) by 7.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,118 shares of the luxury accessories retailer’s stock after acquiring an additional 884 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Tapestry were worth $519,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. KBC Group NV acquired a new stake in shares of Tapestry in the 4th quarter valued at about $144,000. MGO One Seven LLC boosted its holdings in shares of Tapestry by 3.3% in the fourth quarter. MGO One Seven LLC now owns 65,682 shares of the luxury accessories retailer’s stock valued at $2,418,000 after acquiring an additional 2,075 shares during the period. Caxton Associates LP grew its position in shares of Tapestry by 13.4% during the fourth quarter. Caxton Associates LP now owns 107,336 shares of the luxury accessories retailer’s stock worth $3,951,000 after acquiring an additional 12,723 shares during the last quarter. Redwood Investment Management LLC acquired a new position in shares of Tapestry in the 4th quarter valued at $2,202,000. Finally, Brevan Howard Capital Management LP purchased a new stake in Tapestry in the 4th quarter valued at $1,142,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

TPR has been the topic of a number of recent research reports. Telsey Advisory Group restated an “outperform” rating and issued a $54.00 price objective on shares of Tapestry in a research note on Thursday, August 15th. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a research report on Wednesday, September 25th. Citigroup reduced their price objective on Tapestry from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lowered their target price on Tapestry from $54.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Finally, Evercore ISI cut their price target on Tapestry from $53.00 to $47.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.07.

Tapestry Price Performance

TPR stock opened at $45.26 on Wednesday. The firm has a 50 day moving average of $41.72 and a 200-day moving average of $41.87. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.64 and a beta of 1.53. 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 posted its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the business earned $0.95 earnings per share. Tapestry’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, equities analysts expect that Tapestry, Inc. will post 4.47 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced 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 3.09%. 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.