19,040 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by Radnor Capital Management LLC

Radnor Capital Management LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 19,040 shares of the luxury accessories retailer’s stock, valued at approximately $894,000.

A number of other large investors also recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Tapestry during the first quarter worth about $260,000. Norden Group LLC acquired a new stake in shares of Tapestry in the first quarter worth approximately $297,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Tapestry by 70.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 146,967 shares of the luxury accessories retailer’s stock valued at $6,694,000 after purchasing an additional 60,901 shares during the period. Fidelis Capital Partners LLC acquired a new position in Tapestry during the first quarter worth approximately $35,000. Finally, Daiwa Securities Group Inc. raised its stake in Tapestry by 22.9% during the first quarter. Daiwa Securities Group Inc. now owns 7,548 shares of the luxury accessories retailer’s stock worth $358,000 after purchasing an additional 1,407 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

TPR has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. TD Cowen lowered Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research note on Tuesday, October 29th. Bank of America boosted their target price on Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Citigroup raised their price target on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, UBS Group reduced their price target on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Tapestry Stock Up 0.7 %

Shares of Tapestry stock opened at $49.76 on Thursday. Tapestry, Inc. has a 1-year low of $27.02 and a 1-year high of $51.96. The company has a market capitalization of $11.58 billion, a PE ratio of 14.20, a P/E/G ratio of 1.75 and a beta of 1.53. The company has a debt-to-equity ratio of 2.39, a current ratio of 5.14 and a quick ratio of 4.66. The business has a 50-day moving average of $44.65 and a 200-day moving average of $42.27.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. Tapestry’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 4.46 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, September 6th. Tapestry’s dividend payout ratio is currently 39.89%.

About Tapestry

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.