Tapestry, Inc. (NYSE:TPR) Shares Purchased by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC boosted its stake in Tapestry, Inc. (NYSE:TPR) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,813 shares of the luxury accessories retailer’s stock after acquiring an additional 215 shares during the period. Lebenthal Global Advisors LLC’s holdings in Tapestry were worth $367,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. IRON Financial LLC acquired a new position in Tapestry in the 3rd quarter valued at about $220,000. abrdn plc increased its position in Tapestry by 4.7% in the 3rd quarter. abrdn plc now owns 39,127 shares of the luxury accessories retailer’s stock valued at $1,840,000 after acquiring an additional 1,756 shares during the period. Pallas Capital Advisors LLC increased its position in Tapestry by 196.7% in the 3rd quarter. Pallas Capital Advisors LLC now owns 17,195 shares of the luxury accessories retailer’s stock valued at $765,000 after acquiring an additional 11,399 shares during the period. Nisa Investment Advisors LLC increased its position in Tapestry by 23.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 67,622 shares of the luxury accessories retailer’s stock valued at $3,177,000 after acquiring an additional 12,752 shares during the period. Finally, OMNI 360 Wealth Inc. boosted its holdings in Tapestry by 12.6% in the 3rd quarter. OMNI 360 Wealth Inc. now owns 12,242 shares of the luxury accessories retailer’s stock valued at $575,000 after purchasing an additional 1,372 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TPR. JPMorgan Chase & Co. lifted their price objective on Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group lifted their price objective on Tapestry from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, October 21st. Citigroup lifted their price objective on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. UBS Group lowered their price objective on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Finally, Bank of America lifted their price objective on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Tapestry Trading Down 1.0 %

Shares of TPR opened at $46.97 on Friday. The stock has a fifty day moving average of $44.31 and a two-hundred day moving average of $42.13. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14. The company has a market capitalization of $10.93 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.80 and a beta of 1.53. Tapestry, Inc. has a fifty-two week low of $26.95 and a fifty-two week high of $51.96.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. Tapestry’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 EPS. As a group, analysts forecast that Tapestry, Inc. will post 4.46 EPS for the current year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were issued a $0.35 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.40 annualized dividend and a yield of 2.98%. Tapestry’s dividend payout ratio (DPR) is presently 39.89%.

Tapestry 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.