Marble Harbor Investment Counsel LLC boosted its position in Tapestry Inc (NYSE:TPR) by 14.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,429 shares of the luxury accessories retailer’s stock after acquiring an additional 7,800 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Tapestry were worth $2,916,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Stelac Advisory Services LLC bought a new position in Tapestry in the first quarter worth approximately $130,000. Stratos Wealth Partners LTD. bought a new position in shares of Tapestry in the first quarter valued at approximately $155,000. LifePlan Financial Group Inc bought a new position in shares of Tapestry in the second quarter valued at approximately $142,000. Twin Tree Management LP lifted its holdings in shares of Tapestry by 128.9% in the second quarter. Twin Tree Management LP now owns 3,394 shares of the luxury accessories retailer’s stock valued at $159,000 after purchasing an additional 15,144 shares in the last quarter. Finally, Pitcairn Co. bought a new position in shares of Tapestry in the first quarter valued at approximately $201,000. Institutional investors and hedge funds own 92.84% of the company’s stock.
NYSE TPR opened at $52.19 on Tuesday. Tapestry Inc has a 1-year low of $38.70 and a 1-year high of $55.50. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 1.87. The stock has a market capitalization of $14.81 billion, a PE ratio of 19.84, a P/E/G ratio of 1.59 and a beta of 0.40.
Tapestry (NYSE:TPR) last released its earnings results on Tuesday, August 14th. The luxury accessories retailer reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Tapestry had a return on equity of 24.76% and a net margin of 6.76%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the company posted $0.50 EPS. Tapestry’s revenue for the quarter was up 30.9% on a year-over-year basis. equities research analysts forecast that Tapestry Inc will post 2.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 7th will be paid a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, September 6th. Tapestry’s dividend payout ratio (DPR) is presently 51.33%.
TPR has been the topic of a number of recent research reports. Oppenheimer raised their target price on Tapestry from $60.00 to $65.00 in a report on Monday, April 30th. Robert W. Baird set a $60.00 target price on Tapestry and gave the stock a “buy” rating in a research report on Wednesday, May 2nd. Buckingham Research reduced their target price on Tapestry from $62.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, May 2nd. Deutsche Bank set a $63.00 target price on Tapestry and gave the stock a “buy” rating in a research report on Wednesday, May 2nd. Finally, Loop Capital set a $59.00 target price on Tapestry and gave the stock a “buy” rating in a research report on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.10.
Tapestry, Inc provides luxury accessories and lifestyle brands. It offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, belts, sunglasses, watches, novelty accessories, and ready-to-wear for men.
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