Massmutual Trust Co. FSB ADV Increases Stock Position in Tapestry, Inc. (NYSE:TPR)

Massmutual Trust Co. FSB ADV increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 54.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 935 shares of the luxury accessories retailer’s stock after purchasing an additional 328 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Tapestry were worth $40,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. bought a new stake in Tapestry in the 4th quarter worth approximately $117,000. Lecap Asset Management Ltd. purchased a new stake in Tapestry during the fourth quarter valued at $1,107,000. Bessemer Group Inc. lifted its holdings in Tapestry by 1,328.8% in the first quarter. Bessemer Group Inc. now owns 30,148 shares of the luxury accessories retailer’s stock valued at $1,432,000 after acquiring an additional 28,038 shares during the period. Goldman Sachs Group Inc. boosted its position in Tapestry by 41.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,272,950 shares of the luxury accessories retailer’s stock worth $46,857,000 after purchasing an additional 371,724 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Tapestry by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,305,257 shares of the luxury accessories retailer’s stock valued at $121,671,000 after purchasing an additional 140,347 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 2,500 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $42.23, for a total transaction of $105,575.00. Following the sale, the vice president now owns 37,173 shares of the company’s stock, valued at $1,569,815.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TPR has been the topic of a number of research reports. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday. OTR Global reaffirmed a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. Robert W. Baird cut their price target on Tapestry from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. reduced their price target on Tapestry from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Finally, UBS Group lowered their price objective on Tapestry from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.56.

Tapestry Price Performance

Shares of NYSE:TPR opened at $37.07 on Wednesday. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 0.79 and a beta of 1.59. The firm has a fifty day moving average price of $41.58 and a 200 day moving average price of $42.59. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80. The company has a debt-to-equity ratio of 2.77, a quick ratio of 5.98 and a current ratio of 6.59.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, beating the consensus estimate of $0.67 by $0.14. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The business’s revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts expect that Tapestry, Inc. will post 4.24 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.78%. Tapestry’s dividend payout ratio (DPR) is 37.04%.

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.