Tapestry Inc (NYSE:TPR) Position Lessened by Rampart Investment Management Company LLC
Rampart Investment Management Company LLC trimmed its position in shares of Tapestry Inc (NYSE:TPR) by 20.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,901 shares of the luxury accessories retailer’s stock after selling 1,793 shares during the period. Rampart Investment Management Company LLC’s holdings in Tapestry were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in TPR. NumerixS Investment Technologies Inc acquired a new stake in Tapestry during the second quarter worth about $50,000. SVA Wealth Management LLC acquired a new stake in Tapestry during the second quarter worth about $475,000. Bank of Nova Scotia grew its position in Tapestry by 2.1% during the second quarter. Bank of Nova Scotia now owns 813,798 shares of the luxury accessories retailer’s stock worth $25,822,000 after buying an additional 16,998 shares in the last quarter. Castleark Management LLC acquired a new stake in Tapestry during the second quarter worth about $1,063,000. Finally, APG Asset Management N.V. grew its position in Tapestry by 3.1% during the second quarter. APG Asset Management N.V. now owns 404,857 shares of the luxury accessories retailer’s stock worth $11,280,000 after buying an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 88.52% of the company’s stock.
Shares of NYSE:TPR traded down $0.13 during trading on Friday, reaching $25.14. The stock had a trading volume of 8,831,775 shares, compared to its average volume of 6,528,175. Tapestry Inc has a 52 week low of $18.54 and a 52 week high of $51.29. The business’s 50-day moving average price is $23.86 and its 200 day moving average price is $29.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.79 and a quick ratio of 1.94. The stock has a market capitalization of $7.22 billion, a PE ratio of 9.78, a P/E/G ratio of 1.00 and a beta of 0.98.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $0.338 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 5.38%. This is a boost from Tapestry’s previous quarterly dividend of $0.34. Tapestry’s payout ratio is 52.53%.
TPR has been the subject of a number of analyst reports. Oppenheimer cut shares of Tapestry from an “outperform” rating to a “market perform” rating in a research note on Friday, August 16th. Zacks Investment Research upgraded shares of Tapestry from a “sell” rating to a “hold” rating and set a $29.00 price target for the company in a research note on Tuesday, August 6th. Robert W. Baird set a $43.00 price target on shares of Tapestry and gave the stock a “buy” rating in a research note on Monday, August 12th. UBS Group set a $25.00 price target on shares of Tapestry and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Bank of America set a $28.00 price target on shares of Tapestry and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have given a buy rating to the company’s stock. Tapestry presently has a consensus rating of “Buy” and an average price target of $35.25.
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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