First Hawaiian Bank Has $798,000 Holdings in Tapestry, Inc. (NYSE:TPR)

First Hawaiian Bank increased its stake in Tapestry, Inc. (NYSE:TPR) by 8.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,654 shares of the luxury accessories retailer’s stock after purchasing an additional 1,498 shares during the period. First Hawaiian Bank’s holdings in Tapestry were worth $798,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TPR. Asset Management One Co. Ltd. lifted its position in Tapestry by 13.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 29,213 shares of the luxury accessories retailer’s stock worth $1,083,000 after buying an additional 3,425 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Tapestry by 3,326.2% during the 4th quarter. International Assets Investment Management LLC now owns 111,350 shares of the luxury accessories retailer’s stock worth $4,099,000 after purchasing an additional 108,100 shares in the last quarter. Sowell Financial Services LLC boosted its position in shares of Tapestry by 24.6% during the 4th quarter. Sowell Financial Services LLC now owns 22,858 shares of the luxury accessories retailer’s stock worth $841,000 after acquiring an additional 4,510 shares in the last quarter. Allworth Financial LP boosted its position in shares of Tapestry by 62.0% during the 4th quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer’s stock worth $60,000 after acquiring an additional 620 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Tapestry by 71.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,066 shares of the luxury accessories retailer’s stock worth $3,168,000 after acquiring an additional 35,991 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Down 3.3 %

NYSE TPR traded down $1.27 during trading hours on Monday, reaching $36.86. 4,314,287 shares of the company’s stock traded hands, compared to its average volume of 3,339,663. The firm has a market cap of $8.47 billion, a PE ratio of 10.09, a PEG ratio of 0.79 and a beta of 1.59. The company has a debt-to-equity ratio of 2.77, a current ratio of 6.59 and a quick ratio of 5.98. Tapestry, Inc. has a 52-week low of $25.99 and a 52-week high of $48.80. The firm has a 50-day simple moving average of $41.77 and a 200 day simple moving average of $42.58.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $0.78 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts anticipate that Tapestry, Inc. will post 4.24 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Friday, June 7th. Tapestry’s dividend payout ratio (DPR) is presently 37.04%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 price target on shares of Tapestry in a research note on Thursday, May 9th. OTR Global reiterated a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. UBS Group dropped their price target on shares of Tapestry from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Robert W. Baird lowered their price objective on shares of Tapestry from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and an average target price of $47.56.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 2,500 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $42.23, for a total value of $105,575.00. Following the sale, the vice president now owns 37,173 shares in the company, valued at $1,569,815.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.93% of the company’s stock.

About Tapestry

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.