ING Groep NV Grows Stock Position in Tapestry, Inc. (NYSE:TPR)

ING Groep NV raised its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 84.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,652 shares of the luxury accessories retailer's stock after acquiring an additional 26,371 shares during the period. ING Groep NV's holdings in Tapestry were worth $2,708,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Waldron Private Wealth LLC bought a new position in Tapestry during the third quarter valued at $25,000. Massmutual Trust Co. FSB ADV increased its position in Tapestry by 54.0% during the second 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 last quarter. Blue Trust Inc. increased its position in Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer's stock valued at $50,000 after acquiring an additional 556 shares during the last quarter. MUFG Securities EMEA plc increased 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 valued at $52,000 after acquiring an additional 317 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new position in Tapestry during the second quarter valued at $53,000. Institutional investors own 90.77% of the company's stock.

Tapestry Trading Down 1.0 %

Shares of TPR traded down $0.59 during midday trading on Friday, reaching $57.23. The company had a trading volume of 4,444,887 shares, compared to its average volume of 4,725,950. The firm has a 50 day simple moving average of $46.55 and a 200-day simple moving average of $42.97. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The stock has a market cap of $13.34 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.99 and a beta of 1.53. Tapestry, Inc. has a 1-year low of $29.83 and a 1-year high of $58.49.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.04. The firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.58 billion. Tapestry had a return on equity of 36.26% and a net margin of 12.12%. The firm's revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 earnings per share. Research analysts forecast that Tapestry, Inc. will post 4.56 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. Stockholders of record on Friday, December 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry's payout ratio is currently 40.46%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TPR shares. Robert W. Baird boosted their target price on shares of Tapestry from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday. UBS Group lowered their target price on shares of Tapestry from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, August 16th. Bank of America boosted their target price on shares of Tapestry from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, October 25th. The Goldman Sachs Group boosted their target price on shares of Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a research note on Friday. Finally, Wells Fargo & Company boosted their target price on shares of Tapestry from $65.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.