Coldstream Capital Management Inc. Takes $267,000 Position in Tapestry, Inc. (NYSE:TPR)

Coldstream Capital Management Inc. purchased a new stake in Tapestry, Inc. (NYSE:TPRFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,245 shares of the luxury accessories retailer’s stock, valued at approximately $267,000.

Several other large investors have also added to or reduced their stakes in TPR. Norges Bank acquired a new stake in Tapestry during the fourth quarter worth approximately $79,352,000. Fiera Capital Corp bought a new position in Tapestry in the fourth quarter worth approximately $52,121,000. Invesco Ltd. boosted its holdings in Tapestry by 37.8% in the third quarter. Invesco Ltd. now owns 4,394,913 shares of the luxury accessories retailer’s stock worth $126,354,000 after acquiring an additional 1,205,207 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in Tapestry in the third quarter worth approximately $34,010,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Tapestry by 60.1% in the fourth quarter. Pacer Advisors Inc. now owns 3,108,486 shares of the luxury accessories retailer’s stock valued at $114,423,000 after purchasing an additional 1,167,231 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TPR shares. Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and raised their target price for the company from $30.00 to $50.00 in a report on Monday, February 5th. Raymond James boosted their price objective on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Jefferies Financial Group lowered Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research note on Thursday, February 29th. The Goldman Sachs Group boosted their target price on Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Wells Fargo & Company boosted their target price on Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.31.

Check Out Our Latest Stock Report on Tapestry

Tapestry Price Performance

Shares of NYSE TPR opened at $42.30 on Monday. The firm has a market capitalization of $9.72 billion, a P/E ratio of 11.19, a P/E/G ratio of 0.92 and a beta of 1.61. The company has a quick ratio of 5.98, a current ratio of 6.59 and a debt-to-equity ratio of 2.77. The stock’s 50-day simple moving average is $42.47 and its two-hundred day simple moving average is $39.90. Tapestry, Inc. has a twelve month low of $25.99 and a twelve month high of $48.80.

Tapestry (NYSE:TPRGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. Tapestry had a return on equity of 39.78% and a net margin of 13.15%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business earned $0.78 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities analysts anticipate that Tapestry, Inc. will post 4.22 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.31%. The ex-dividend date is Friday, June 7th. Tapestry’s dividend payout ratio is presently 37.04%.

Tapestry Company Profile

(Free Report)

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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