Empowered Funds LLC Acquires 184,519 Shares of Tapestry, Inc. (NYSE:TPR)

Empowered Funds LLC lifted its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 972.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 203,491 shares of the luxury accessories retailer's stock after acquiring an additional 184,519 shares during the period. Empowered Funds LLC owned approximately 0.09% of Tapestry worth $9,560,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Waldron Private Wealth LLC bought a new stake in Tapestry during the third quarter worth about $25,000. Massmutual Trust Co. FSB ADV raised its stake in Tapestry by 54.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer's stock valued at $40,000 after acquiring an additional 328 shares during the period. Blue Trust Inc. lifted its holdings in Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer's stock valued at $50,000 after purchasing an additional 556 shares during the last quarter. MUFG Securities EMEA plc boosted its position in Tapestry by 34.9% during the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer's stock worth $52,000 after purchasing an additional 317 shares during the period. Finally, Chilton Capital Management LLC acquired a new position in shares of Tapestry in the second quarter valued at $53,000. Institutional investors own 90.77% of the company's stock.

Tapestry Price Performance

Shares of NYSE TPR traded down $0.59 during mid-day trading on Friday, hitting $57.23. 4,444,887 shares of the stock traded hands, compared to its average volume of 3,337,417. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. The company has a market cap of $13.34 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.78 and a beta of 1.53. Tapestry, Inc. has a twelve month low of $29.83 and a twelve month high of $58.49. The firm has a 50 day simple moving average of $46.55 and a two-hundred day simple moving average of $42.97.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. Tapestry had a net margin of 12.12% and a return on equity of 36.26%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company earned $0.95 EPS. The firm's revenue was down 1.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tapestry, Inc. will post 4.54 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.45%. The ex-dividend date is Friday, December 6th. Tapestry's dividend payout ratio is presently 40.46%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group reduced their target price on shares of Tapestry from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, August 16th. The Goldman Sachs Group upped their target price on Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a research report on Friday. Bank of America lifted their price target on Tapestry from $52.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Telsey Advisory Group boosted their price target on Tapestry from $58.00 to $67.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Robert W. Baird increased their price objective on Tapestry from $58.00 to $64.00 and gave the stock an "outperform" rating in a research report on Friday. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.69.

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.