Swedbank AB Boosts Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Swedbank AB increased its position in shares of Tapestry, Inc. (NYSE:TPR) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,092,260 shares of the luxury accessories retailer’s stock after purchasing an additional 92,458 shares during the period. Swedbank AB’s holdings in Tapestry were worth $51,314,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TPR. Fidelis Capital Partners LLC acquired a new position in Tapestry during the first quarter worth about $35,000. BNP Paribas acquired a new position in Tapestry during the first quarter worth about $38,000. Massmutual Trust Co. FSB ADV grew its position in Tapestry by 54.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after buying an additional 328 shares during the period. Blue Trust Inc. grew its position in Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after buying an additional 556 shares during the period. Finally, MUFG Securities EMEA plc grew its position in Tapestry by 34.9% during the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after buying an additional 317 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TPR shares. Wells Fargo & Company lowered their price target 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. Argus reissued a “buy” rating and set a $52.00 price objective on shares of Tapestry in a research note on Tuesday, June 18th. JPMorgan Chase & Co. reduced their price objective 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. Citigroup reduced their price objective on shares of Tapestry from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, UBS Group reduced their price objective 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. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.07.

Tapestry Stock Performance

Tapestry stock opened at $45.22 on Wednesday. The firm’s 50 day simple moving average is $42.40 and its 200-day simple moving average is $41.82. The company has a market cap of $10.39 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 1.67 and a beta of 1.53. The company has a debt-to-equity ratio of 2.39, a current ratio of 5.14 and a quick ratio of 4.66. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The firm 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 firm posted $0.95 earnings per share. The firm’s revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts predict that Tapestry, Inc. will post 4.47 EPS for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Friday, September 6th. Tapestry’s payout ratio is presently 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.