FIL Ltd Has $136.75 Million Holdings in Tapestry Inc (TPR)

FIL Ltd reduced its stake in shares of Tapestry Inc (NYSE:TPR) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,720,373 shares of the luxury accessories retailer’s stock after selling 60,455 shares during the period. FIL Ltd owned approximately 0.94% of Tapestry worth $136,753,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TPR. Heritage Trust Co lifted its position in Tapestry by 2.4% during the second quarter. Heritage Trust Co now owns 53,122 shares of the luxury accessories retailer’s stock valued at $2,481,000 after purchasing an additional 1,269 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its position in Tapestry by 2.2% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 65,072 shares of the luxury accessories retailer’s stock valued at $3,039,000 after purchasing an additional 1,388 shares during the period. Sumitomo Life Insurance Co. lifted its position in Tapestry by 4.5% during the second quarter. Sumitomo Life Insurance Co. now owns 32,988 shares of the luxury accessories retailer’s stock valued at $1,541,000 after purchasing an additional 1,415 shares during the period. US Bancorp DE lifted its position in Tapestry by 5.5% during the second quarter. US Bancorp DE now owns 30,512 shares of the luxury accessories retailer’s stock valued at $1,425,000 after purchasing an additional 1,588 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in Tapestry by 22.7% during the second quarter. Cubist Systematic Strategies LLC now owns 9,080 shares of the luxury accessories retailer’s stock valued at $424,000 after purchasing an additional 1,679 shares during the period. Institutional investors and hedge funds own 88.24% of the company’s stock.

A number of research firms recently issued reports on TPR. KeyCorp boosted their target price on shares of Tapestry from $59.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, August 15th. Buckingham Research boosted their target price on shares of Tapestry from $57.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. Wells Fargo & Co reiterated a “buy” rating on shares of Tapestry in a research report on Tuesday, August 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $52.00 price objective on shares of Tapestry in a research report on Wednesday, August 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $53.19.

TPR stock opened at $37.87 on Friday. The stock has a market cap of $10.97 billion, a PE ratio of 14.40, a P/E/G ratio of 1.21 and a beta of 0.70. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.74 and a quick ratio of 1.83. Tapestry Inc has a 52 week low of $37.68 and a 52 week high of $55.50.

Tapestry (NYSE:TPR) last released its earnings results on Tuesday, October 30th. The luxury accessories retailer reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Tapestry had a net margin of 9.00% and a return on equity of 24.73%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 earnings per share. As a group, equities analysts anticipate that Tapestry Inc will post 2.78 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 7th will be paid a dividend of $0.338 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.57%. This is a boost from Tapestry’s previous quarterly dividend of $0.34. Tapestry’s payout ratio is currently 51.33%.

In other news, Director Ivan Menezes sold 2,068 shares of the business’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $50.70, for a total transaction of $104,847.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by insiders.

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About Tapestry

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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