Barclays PLC Increases Position in Tapestry, Inc. (NYSE:TPR)

Barclays PLC grew its holdings in Tapestry, Inc. (NYSE:TPRGet Rating) by 1.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 564,208 shares of the luxury accessories retailer’s stock after buying an additional 8,193 shares during the period. Barclays PLC owned 0.23% of Tapestry worth $16,041,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TPR. TD Asset Management Inc. raised its stake in Tapestry by 7.5% during the second quarter. TD Asset Management Inc. now owns 143,179 shares of the luxury accessories retailer’s stock worth $4,370,000 after purchasing an additional 9,953 shares during the period. Absher Wealth Management LLC raised its holdings in shares of Tapestry by 1.6% in the 3rd quarter. Absher Wealth Management LLC now owns 54,936 shares of the luxury accessories retailer’s stock worth $1,562,000 after purchasing an additional 852 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Tapestry by 35.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 34,345 shares of the luxury accessories retailer’s stock worth $976,000 after purchasing an additional 9,063 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Tapestry by 43.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,657 shares of the luxury accessories retailer’s stock worth $142,000 after acquiring an additional 1,421 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in Tapestry by 399.2% during the second quarter. BNP Paribas Arbitrage SA now owns 652,949 shares of the luxury accessories retailer’s stock valued at $19,928,000 after purchasing an additional 522,138 shares in the last quarter. 92.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 1,582 shares of the company’s stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $38.53, for a total value of $60,954.46. Following the completion of the transaction, the vice president now owns 39,375 shares in the company, valued at approximately $1,517,118.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of several research analyst reports. Sanford C. Bernstein cut shares of Tapestry from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 5th. The Goldman Sachs Group raised Tapestry from a “neutral” rating to a “buy” rating and increased their target price for the stock from $37.00 to $44.00 in a research note on Monday, December 12th. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Wednesday, December 21st. Citigroup cut their price target on Tapestry from $42.00 to $40.00 and set a “buy” rating for the company in a report on Monday, November 14th. Finally, Raymond James initiated coverage on Tapestry in a report on Monday, December 19th. They set an “outperform” rating and a $44.00 price target for the company. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.19.

Tapestry Stock Performance

NYSE:TPR opened at $43.56 on Wednesday. The stock has a market cap of $10.50 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36. The company has a current ratio of 1.82, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73. The stock’s 50-day moving average is $38.67 and its 200-day moving average is $34.95. Tapestry, Inc. has a 1-year low of $26.39 and a 1-year high of $44.41.

Tapestry (NYSE:TPRGet Rating) last released its quarterly earnings results on Thursday, November 10th. The luxury accessories retailer reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.05. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Tapestry had a return on equity of 35.86% and a net margin of 12.29%. Equities research analysts anticipate that Tapestry, Inc. will post 3.63 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 27th. Shareholders of record on Friday, December 9th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, December 8th. Tapestry’s dividend payout ratio (DPR) is presently 38.10%.

About Tapestry

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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 accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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