Boston Advisors LLC Has $2.76 Million Position in Tapestry Inc (TPR)

Boston Advisors LLC increased its holdings in Tapestry Inc (NYSE:TPR) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,915 shares of the luxury accessories retailer’s stock after purchasing an additional 1,383 shares during the quarter. Boston Advisors LLC’s holdings in Tapestry were worth $2,759,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Smith Graham & Co. Investment Advisors LP lifted its holdings in Tapestry by 22.3% in the first quarter. Smith Graham & Co. Investment Advisors LP now owns 163,260 shares of the luxury accessories retailer’s stock valued at $5,304,000 after buying an additional 29,760 shares during the period. Iberiabank Corp lifted its holdings in Tapestry by 2.6% in the first quarter. Iberiabank Corp now owns 42,283 shares of the luxury accessories retailer’s stock valued at $1,374,000 after buying an additional 1,076 shares during the period. Strs Ohio lifted its holdings in Tapestry by 162.0% in the first quarter. Strs Ohio now owns 142,498 shares of the luxury accessories retailer’s stock valued at $4,629,000 after buying an additional 88,100 shares during the period. Pennsylvania Trust Co acquired a new position in Tapestry in the first quarter valued at $14,426,000. Finally, IFM Investors Pty Ltd lifted its holdings in Tapestry by 13.0% in the first quarter. IFM Investors Pty Ltd now owns 20,046 shares of the luxury accessories retailer’s stock valued at $651,000 after buying an additional 2,307 shares during the period. 90.87% of the stock is currently owned by institutional investors.

TPR opened at $31.53 on Thursday. The company has a current ratio of 2.62, a quick ratio of 1.94 and a debt-to-equity ratio of 0.46. Tapestry Inc has a fifty-two week low of $30.05 and a fifty-two week high of $55.50. The stock has a market capitalization of $9.28 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 1.17 and a beta of 0.71.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 7th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.04). Tapestry had a return on equity of 23.84% and a net margin of 12.18%. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company earned $1.07 EPS. The company’s revenue was up .9% on a year-over-year basis. Equities analysts forecast that Tapestry Inc will post 2.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a $0.3375 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 4.28%. Tapestry’s dividend payout ratio is presently 51.33%.

TPR has been the topic of several recent analyst reports. KeyCorp dropped their target price on shares of Tapestry from $62.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, February 8th. They noted that the move was a valuation call. Cowen dropped their target price on shares of Tapestry from $62.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, February 8th. They noted that the move was a valuation call. Guggenheim restated a “buy” rating and issued a $52.00 target price on shares of Tapestry in a report on Tuesday, January 29th. Zacks Investment Research upgraded shares of Tapestry from a “sell” rating to a “hold” rating and set a $38.00 target price on the stock in a report on Thursday, April 11th. Finally, Canaccord Genuity restated a “buy” rating and issued a $58.00 target price on shares of Tapestry in a report on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $49.75.

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Tapestry Profile

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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