Raymond James Financial Services Advisors Inc. boosted its position in shares of Tapestry Inc (NYSE:TPR) by 10.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,297 shares of the luxury accessories retailer’s stock after purchasing an additional 2,275 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Tapestry were worth $1,135,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TPR. Aperio Group LLC lifted its stake in Tapestry by 7.6% in 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. State of New Jersey Common Pension Fund D lifted its stake in Tapestry by 66.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 100,000 shares of the luxury accessories retailer’s stock valued at $4,671,000 after buying an additional 40,000 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Tapestry by 28.4% in the second quarter. Daiwa Securities Group Inc. now owns 157,241 shares of the luxury accessories retailer’s stock valued at $7,344,000 after buying an additional 34,816 shares in the last quarter. BP PLC bought a new position in Tapestry in the second quarter valued at approximately $1,682,000. Finally, Iberiabank Corp bought a new position in Tapestry in the second quarter valued at approximately $2,533,000. Hedge funds and other institutional investors own 92.84% of the company’s stock.

In other Tapestry news, insider Ian Bickley sold 48,071 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $52.13, for a total transaction of $2,505,941.23. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.98% of the company’s stock.

A number of research analysts have weighed in on TPR shares. Oppenheimer lifted their price target on shares of Tapestry from $60.00 to $65.00 in a research note on Monday, April 30th. UBS Group assumed coverage on shares of Tapestry in a research report on Thursday, June 21st. They issued a “buy” rating and a $62.00 price objective on the stock. Robert W. Baird set a $60.00 price objective on shares of Tapestry and gave the stock a “buy” rating in a research report on Wednesday, May 2nd. Buckingham Research cut their price objective on shares of Tapestry from $62.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, May 2nd. Finally, Deutsche Bank set a $63.00 price objective on shares of Tapestry and gave the stock a “buy” rating in a research report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $56.10.

NYSE TPR opened at $51.03 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.87 and a current ratio of 2.59. Tapestry Inc has a 1 year low of $38.70 and a 1 year high of $55.50. The firm has a market cap of $14.99 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.61 and a beta of 0.40.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Tuesday, August 14th. The luxury accessories retailer reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. Tapestry had a net margin of 6.76% and a return on equity of 24.76%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the firm posted $0.50 earnings per share. The company’s quarterly revenue was up 30.9% compared to the same quarter last year. equities research analysts anticipate that Tapestry Inc will post 2.77 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 7th will be given a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, September 6th. Tapestry’s dividend payout ratio (DPR) is currently 51.33%.

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.

Featured Article: Average Daily Trade Volume – What It Means In Stock Trading

Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.