Foster & Motley Inc. Buys Shares of 14,264 Tapestry, Inc. (NYSE:TPR)

Foster & Motley Inc. bought a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,264 shares of the luxury accessories retailer's stock, valued at approximately $610,000.

Several other institutional investors have also recently made changes to their positions in the business. Fidelis Capital Partners LLC acquired a new stake in shares of Tapestry during the 1st quarter worth approximately $35,000. BNP Paribas purchased a new stake in Tapestry during the first quarter worth $38,000. Massmutual Trust Co. FSB ADV increased its holdings in Tapestry by 54.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer's stock valued at $40,000 after buying an additional 328 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Tapestry by 3,778.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer's stock valued at $46,000 after buying an additional 1,209 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Tapestry by 111.9% in the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer's stock worth $50,000 after acquiring an additional 556 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Trading Down 1.6 %

Shares of TPR stock traded down $0.64 during trading on Friday, hitting $40.36. 2,294,222 shares of the stock traded hands, compared to its average volume of 3,305,260. Tapestry, Inc. has a 52-week low of $25.99 and a 52-week high of $48.80. The firm has a market capitalization of $9.27 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.52 and a beta of 1.54. The firm's fifty day moving average price is $40.40 and its 200-day moving average price is $42.36. The company has a debt-to-equity ratio of 2.39, a current ratio of 5.14 and a quick ratio of 4.66.

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, beating analysts' consensus estimates 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%. The company's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 earnings per share. As a group, research analysts forecast that Tapestry, Inc. will post 4.47 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 6th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, September 6th. Tapestry's dividend payout ratio (DPR) is 37.04%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TPR shares. Citigroup reduced their price target on Tapestry from $50.00 to $49.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. Argus reaffirmed a "buy" rating and issued a $52.00 price target on shares of Tapestry in a research note on Tuesday, June 18th. Evercore ISI cut their price objective on Tapestry from $53.00 to $47.00 and set an "outperform" rating for the company in a research note on Friday, August 9th. Robert W. Baird decreased their target price on Tapestry from $52.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, May 10th. Finally, Wells Fargo & Company dropped their price target on Tapestry from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, August 16th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $46.13.

Tapestry Profile

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.