Smith Graham & Co. Investment Advisors LP Has $5.93 Million Position in Tapestry Inc (NYSE:TPR)

Smith Graham & Co. Investment Advisors LP grew its holdings in Tapestry Inc (NYSE:TPR) by 14.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 186,820 shares of the luxury accessories retailer’s stock after purchasing an additional 23,560 shares during the quarter. Smith Graham & Co. Investment Advisors LP owned about 0.06% of Tapestry worth $5,928,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. First Trust Advisors LP lifted its stake in Tapestry by 344.2% during the second quarter. First Trust Advisors LP now owns 700,034 shares of the luxury accessories retailer’s stock worth $22,212,000 after purchasing an additional 542,456 shares during the period. Investec Asset Management LTD lifted its stake in Tapestry by 27.5% during the second quarter. Investec Asset Management LTD now owns 488,258 shares of the luxury accessories retailer’s stock worth $15,492,000 after purchasing an additional 105,228 shares during the period. Janney Montgomery Scott LLC lifted its stake in Tapestry by 28.6% during the second quarter. Janney Montgomery Scott LLC now owns 18,300 shares of the luxury accessories retailer’s stock worth $581,000 after purchasing an additional 4,069 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Tapestry by 111.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 14,970 shares of the luxury accessories retailer’s stock worth $475,000 after purchasing an additional 7,900 shares during the period. Finally, Mcrae Capital Management Inc. lifted its stake in Tapestry by 1.4% during the second quarter. Mcrae Capital Management Inc. now owns 130,175 shares of the luxury accessories retailer’s stock worth $4,130,000 after purchasing an additional 1,750 shares during the period. 87.57% of the stock is currently owned by institutional investors.

Shares of Tapestry stock traded down $1.08 during midday trading on Friday, reaching $27.39. The company had a trading volume of 2,633,940 shares, compared to its average volume of 3,352,282. The company has a quick ratio of 1.86, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The firm has a market cap of $8.18 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 0.92 and a beta of 0.88. The company’s fifty day moving average is $30.23. Tapestry Inc has a 1-year low of $27.24 and a 1-year high of $54.35.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.34 billion. Tapestry had a net margin of 11.78% and a return on equity of 22.08%. Tapestry’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 earnings per share. Equities research analysts expect that Tapestry Inc will post 2.57 earnings per share for the current year.

A number of research analysts have commented on the stock. Goldman Sachs Group cut shares of Tapestry to a “buy” rating in a research note on Thursday, June 27th. UBS Group raised their price target on shares of Tapestry from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Canaccord Genuity restated a “buy” rating and set a $41.00 price target on shares of Tapestry in a research note on Friday, May 10th. Piper Jaffray Companies set a $40.00 price target on shares of Tapestry and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, OTR Global cut shares of Tapestry to a “positive” rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $46.48.

In related news, Director Annabelle Yu Long sold 3,229 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $28.93, for a total value of $93,414.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Darrell Cavens purchased 7,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average cost of $30.01 per share, with a total value of $210,070.00. The disclosure for this purchase can be found here. Company insiders own 0.70% of the company’s stock.

Tapestry Profile

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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