Winslow Asset Management Inc. Acquires 277 Shares of Tapestry, Inc. (NYSE:TPR)

Winslow Asset Management Inc. raised its stake in shares of Tapestry, Inc. (NYSE:TPR) by 0.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,922 shares of the luxury accessories retailer’s stock after purchasing an additional 277 shares during the period. Winslow Asset Management Inc.’s holdings in Tapestry were worth $5,305,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Waldron Private Wealth LLC bought a new position in shares of Tapestry during the third quarter worth about $25,000. Massmutual Trust Co. FSB ADV raised its holdings in Tapestry by 54.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after purchasing an additional 328 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Tapestry by 111.9% in the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after purchasing an additional 556 shares during the period. MUFG Securities EMEA plc boosted its stake in shares of Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after purchasing an additional 317 shares during the last quarter. Finally, Chilton Capital Management LLC acquired a new stake in shares of Tapestry during the second quarter worth $53,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on TPR. Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 price target on shares of Tapestry in a research report on Thursday, November 7th. Citigroup upped their target price on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 25th. UBS Group lowered their target price on Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Robert W. Baird increased their price target on Tapestry from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday. Finally, The Goldman Sachs Group lifted their price objective on shares of Tapestry from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.00.

Tapestry Stock Performance

Shares of Tapestry stock opened at $51.55 on Tuesday. Tapestry, Inc. has a 1 year low of $27.91 and a 1 year high of $52.76. The firm’s 50-day moving average is $45.49 and its 200 day moving average is $42.59. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.94 and a beta of 1.53. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.66.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. Tapestry had a return on equity of 36.26% and a net margin of 12.12%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company earned $0.95 EPS. Tapestry’s revenue for the quarter was down 1.8% on a year-over-year basis. Sell-side analysts anticipate that Tapestry, Inc. will post 4.54 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.72%. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.