Fiera Capital Corp Reduces Stock Position in Tapestry, Inc. (NYSE:TPR)

Fiera Capital Corp decreased its position in Tapestry, Inc. (NYSE:TPR) by 4.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,395,533 shares of the luxury accessories retailer’s stock after selling 67,188 shares during the quarter. Fiera Capital Corp’s holdings in Tapestry were worth $65,562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in Tapestry by 8.5% in the 1st quarter. Capital Research Global Investors now owns 6,238,670 shares of the luxury accessories retailer’s stock worth $296,212,000 after buying an additional 489,933 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Tapestry by 53.1% during the 2nd quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock worth $257,623,000 after acquiring an additional 2,087,586 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Tapestry by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock worth $151,965,000 after acquiring an additional 165,406 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Tapestry by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer’s stock worth $116,928,000 after acquiring an additional 46,760 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Tapestry by 235.9% in the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock valued at $61,578,000 after purchasing an additional 1,051,743 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America increased their price target on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” 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 target price on the stock. in a research report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. UBS Group reduced their price objective on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Finally, Wells Fargo & Company boosted their target price on Tapestry from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and an average price target of $52.25.

Tapestry Stock Up 0.6 %

Shares of TPR stock traded up $0.29 on Friday, hitting $51.84. The stock had a trading volume of 1,159,052 shares, compared to its average volume of 3,288,105. The stock’s 50 day moving average is $45.05 and its 200-day moving average is $42.38. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.81 and a beta of 1.53. Tapestry, Inc. has a 52-week low of $27.55 and a 52-week high of $52.50. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 EPS. As a group, research analysts expect that Tapestry, Inc. will post 4.46 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.70%. Tapestry’s dividend payout ratio (DPR) is presently 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.