King Luther Capital Management Corp grew its holdings in shares of Tapestry Inc (NYSE:TPR) by 27.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 494,610 shares of the luxury accessories retailer’s stock after buying an additional 106,755 shares during the period. King Luther Capital Management Corp owned 0.17% of Tapestry worth $24,864,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aperio Group LLC raised its holdings in Tapestry by 7.6% during the second quarter. Aperio Group LLC now owns 166,788 shares of the luxury accessories retailer’s stock valued at $7,791,000 after buying an additional 11,765 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Tapestry by 10.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 24,297 shares of the luxury accessories retailer’s stock worth $1,135,000 after acquiring an additional 2,275 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Tapestry by 11.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 21,956 shares of the luxury accessories retailer’s stock worth $1,026,000 after acquiring an additional 2,225 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in Tapestry by 143.6% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 221,565 shares of the luxury accessories retailer’s stock worth $10,349,000 after purchasing an additional 130,596 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Tapestry by 17.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 968,922 shares of the luxury accessories retailer’s stock worth $45,258,000 after purchasing an additional 145,131 shares during the last quarter. 89.26% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TPR opened at $38.22 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.74 and a quick ratio of 1.83. Tapestry Inc has a twelve month low of $36.72 and a twelve month high of $55.50. The firm has a market cap of $11.08 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.22 and a beta of 0.62.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Tuesday, October 30th. The luxury accessories retailer reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.35 billion. Tapestry had a net margin of 9.00% and a return on equity of 24.73%. Tapestry’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. As a group, equities research analysts forecast that Tapestry Inc will post 2.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 7th will be issued a $0.338 dividend. This is an increase from Tapestry’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.54%. Tapestry’s dividend payout ratio (DPR) is presently 51.33%.

Several analysts have commented on the stock. KeyCorp upped their target price on shares of Tapestry from $59.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, August 15th. Zacks Investment Research upgraded shares of Tapestry from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Loop Capital set a $59.00 target price on shares of Tapestry and gave the company a “buy” rating in a report on Tuesday, August 14th. Canaccord Genuity raised their target price on shares of Tapestry from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, August 15th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $52.00 target price on shares of Tapestry in a report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $53.07.

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Tapestry Company 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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