Tapestry, Inc. (NYSE:TPR) Shares Acquired by swisspartners Advisors Ltd

swisspartners Advisors Ltd grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 0.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 96,660 shares of the luxury accessories retailer’s stock after acquiring an additional 800 shares during the quarter. Tapestry makes up about 3.5% of swisspartners Advisors Ltd’s portfolio, making the stock its 14th biggest position. swisspartners Advisors Ltd’s holdings in Tapestry were worth $4,541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. raised its position in Tapestry by 53.1% during the second quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock valued at $257,623,000 after buying an additional 2,087,586 shares during the period. Clearbridge Investments LLC purchased a new stake in shares of Tapestry in the first quarter worth approximately $54,055,000. AQR Capital Management LLC lifted its position in shares of Tapestry by 235.9% in the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock worth $61,578,000 after purchasing an additional 1,051,743 shares in the last quarter. Coronation Fund Managers Ltd. boosted its holdings in shares of Tapestry by 265.1% during the second quarter. Coronation Fund Managers Ltd. now owns 1,044,641 shares of the luxury accessories retailer’s stock worth $44,700,000 after purchasing an additional 758,539 shares during the period. Finally, Swedbank AB lifted its position in Tapestry by 206.5% in the 2nd quarter. Swedbank AB now owns 999,802 shares of the luxury accessories retailer’s stock worth $42,782,000 after buying an additional 673,655 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TPR. JPMorgan Chase & Co. upped their price target on shares of Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Evercore ISI lifted their price target on Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Bank of America raised their price objective on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 25th. TD Cowen downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a research report on Tuesday. Finally, Telsey Advisory Group restated an “outperform” rating and set a $54.00 price target on shares of Tapestry in a research note on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.75.

Tapestry Stock Performance

TPR traded down $0.48 during midday trading on Friday, reaching $46.97. The company’s stock had a trading volume of 2,655,519 shares, compared to its average volume of 3,263,152. The company has a current ratio of 5.14, a quick ratio of 4.66 and a debt-to-equity ratio of 2.39. The company has a fifty day simple moving average of $44.31 and a 200 day simple moving average of $42.13. The stock has a market cap of $10.93 billion, a P/E ratio of 13.38, a PEG ratio of 1.80 and a beta of 1.53. Tapestry, Inc. has a twelve month low of $26.95 and a twelve month high of $51.96.

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

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.40 annualized dividend and a yield of 2.98%. Tapestry’s dividend payout ratio is 39.89%.

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.