Haverford Trust Co. raised its position in Tapestry Inc (NYSE:TPR) by 66.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 617,328 shares of the luxury accessories retailer’s stock after purchasing an additional 246,204 shares during the quarter. Haverford Trust Co.’s holdings in Tapestry were worth $20,057,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Claybrook Capital LLC acquired a new stake in shares of Tapestry in the 4th quarter valued at about $34,000. Oregon Public Employees Retirement Fund raised its stake in shares of Tapestry by 1,484.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,213,009 shares of the luxury accessories retailer’s stock valued at $36,000 after purchasing an additional 1,136,452 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Tapestry by 1,079.0% in the 1st quarter. Quadrant Capital Group LLC now owns 1,403 shares of the luxury accessories retailer’s stock valued at $44,000 after purchasing an additional 1,284 shares during the period. Advisory Services Network LLC raised its stake in shares of Tapestry by 47.1% in the 4th quarter. Advisory Services Network LLC now owns 1,374 shares of the luxury accessories retailer’s stock valued at $46,000 after purchasing an additional 440 shares during the period. Finally, Pearl River Capital LLC acquired a new stake in shares of Tapestry in the 4th quarter valued at about $66,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry stock opened at $29.71 on Friday. Tapestry Inc has a 52 week low of $29.82 and a 52 week high of $54.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.86. The stock has a market cap of $8.62 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 1.13 and a beta of 0.70.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Tapestry had a return on equity of 22.08% and a net margin of 11.78%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the company posted $0.54 earnings per share. Tapestry’s quarterly revenue was up .7% on a year-over-year basis. As a group, sell-side analysts predict that Tapestry Inc will post 2.58 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Thursday, June 6th. Tapestry’s payout ratio is currently 51.33%.

TPR has been the topic of several recent research reports. MKM Partners dropped their price target on Tapestry to $52.00 in a research note on Monday, February 11th. Guggenheim reaffirmed a “buy” rating and issued a $52.00 target price on shares of Tapestry in a research report on Tuesday, January 29th. Needham & Company LLC lowered their target price on Tapestry to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 8th. Canaccord Genuity reaffirmed a “buy” rating and issued a $58.00 target price on shares of Tapestry in a research report on Tuesday, February 5th. Finally, Barclays set a $41.00 target price on Tapestry and gave the company a “buy” rating in a research report on Saturday, February 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $47.42.

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About Tapestry

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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