Stephens Inc. AR Increases Stock Holdings in Tapestry Inc (NYSE:TPR)

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Stephens Inc. AR increased its holdings in shares of Tapestry Inc (NYSE:TPR) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,983 shares of the luxury accessories retailer’s stock after buying an additional 347 shares during the period. Stephens Inc. AR’s holdings in Tapestry were worth $380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale raised its stake in Tapestry by 55.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 74,170 shares of the luxury accessories retailer’s stock valued at $2,342,000 after purchasing an additional 26,416 shares during the last quarter. Portland Hill Asset Management Ltd raised its stake in Tapestry by 11.8% in the 2nd quarter. Portland Hill Asset Management Ltd now owns 228,484 shares of the luxury accessories retailer’s stock valued at $7,177,000 after purchasing an additional 24,181 shares during the last quarter. Advisory Services Network LLC raised its stake in Tapestry by 306.3% in the 2nd quarter. Advisory Services Network LLC now owns 6,501 shares of the luxury accessories retailer’s stock valued at $206,000 after purchasing an additional 4,901 shares during the last quarter. TD Asset Management Inc. raised its stake in Tapestry by 2.6% in the 2nd quarter. TD Asset Management Inc. now owns 592,493 shares of the luxury accessories retailer’s stock valued at $18,800,000 after purchasing an additional 15,182 shares during the last quarter. Finally, Olstein Capital Management L.P. raised its stake in Tapestry by 17.5% in the 2nd quarter. Olstein Capital Management L.P. now owns 222,000 shares of the luxury accessories retailer’s stock valued at $7,044,000 after purchasing an additional 33,000 shares during the last quarter. Hedge funds and other institutional investors own 88.13% of the company’s stock.

In other news, Director Darrell Cavens bought 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, for a total transaction of $210,070.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Annabelle Yu Long sold 3,229 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $28.93, for a total value of $93,414.97. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

TPR has been the subject of several recent research reports. Telsey Advisory Group downgraded Tapestry from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 15th. Deutsche Bank set a $33.00 target price on Tapestry and gave the stock a “buy” rating in a research note on Friday, August 16th. Oppenheimer downgraded Tapestry from an “outperform” rating to a “market perform” rating in a research note on Friday, August 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 target price (down from $42.00) on shares of Tapestry in a research note on Friday, August 16th. Finally, Bank of America set a $28.00 target price on Tapestry and gave the stock a “buy” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Tapestry presently has a consensus rating of “Buy” and an average target price of $35.88.

Shares of NYSE:TPR opened at $21.28 on Friday. The business has a 50-day moving average price of $28.08 and a 200 day moving average price of $31.28. The company has a current ratio of 2.79, a quick ratio of 1.94 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 0.80 and a beta of 0.88. Tapestry Inc has a 12-month low of $18.54 and a 12-month high of $52.02.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.53 billion. Tapestry had a return on equity of 21.64% and a net margin of 10.68%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS. As a group, equities research analysts predict that Tapestry Inc will post 2.59 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $0.338 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.35%. This is an increase from Tapestry’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, September 5th. Tapestry’s dividend payout ratio (DPR) is presently 52.53%.

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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