Robeco Institutional Asset Management B.V. lowered its position in shares of Tapestry Inc (NYSE:TPR) by 14.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,763 shares of the luxury accessories retailer’s stock after selling 8,844 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Tapestry were worth $2,417,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Global X Management Co. LLC acquired a new position in shares of Tapestry in the first quarter worth about $242,000. Lee Danner & Bass Inc. lifted its stake in shares of Tapestry by 1.3% in the first quarter. Lee Danner & Bass Inc. now owns 83,090 shares of the luxury accessories retailer’s stock worth $4,371,000 after acquiring an additional 1,093 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Tapestry by 446.0% in the first quarter. Daiwa Securities Group Inc. now owns 122,425 shares of the luxury accessories retailer’s stock worth $6,441,000 after acquiring an additional 100,003 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in shares of Tapestry by 613.4% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 96,549 shares of the luxury accessories retailer’s stock worth $5,048,000 after acquiring an additional 83,016 shares in the last quarter. Finally, Morse Asset Management Inc lifted its stake in shares of Tapestry by 45.2% in the first quarter. Morse Asset Management Inc now owns 43,400 shares of the luxury accessories retailer’s stock worth $2,283,000 after acquiring an additional 13,500 shares in the last quarter. 90.23% of the stock is owned by institutional investors.
Shares of Tapestry stock opened at $52.19 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.66 and a quick ratio of 1.83. The stock has a market capitalization of $13.80 billion, a P/E ratio of 24.27, a PEG ratio of 1.46 and a beta of 0.40. Tapestry Inc has a fifty-two week low of $38.70 and a fifty-two week high of $55.50.
Tapestry (NYSE:TPR) last announced its quarterly earnings data on Tuesday, August 14th. The luxury accessories retailer reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. Tapestry had a return on equity of 24.12% and a net margin of 6.10%. Tapestry’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. equities research analysts anticipate that Tapestry Inc will post 2.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be issued a $0.3375 dividend. This represents a $1.35 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, September 6th. Tapestry’s dividend payout ratio is currently 62.79%.
Several research analysts recently commented on TPR shares. Zacks Investment Research cut Tapestry from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. Piper Jaffray Companies reiterated a “buy” rating and issued a $59.00 price target on shares of Tapestry in a research note on Thursday, August 16th. Deutsche Bank set a $63.00 price target on Tapestry and gave the stock a “buy” rating in a research note on Wednesday, May 2nd. Bank of America upgraded Tapestry from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Thursday, May 10th. They noted that the move was a valuation call. Finally, Susquehanna Bancshares reiterated a “positive” rating and issued a $50.00 price target on shares of Tapestry in a research note on Thursday, June 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $56.10.
Tapestry Company Profile
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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