National Bank of Canada FI Has $2.63 Million Stock Position in Tapestry, Inc. (NYSE:TPR)

National Bank of Canada FI cut its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 87.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,679 shares of the luxury accessories retailer's stock after selling 439,063 shares during the period. National Bank of Canada FI's holdings in Tapestry were worth $2,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of TPR. Fidelis Capital Partners LLC acquired a new position in shares of Tapestry during the first quarter valued at $35,000. BNP Paribas bought a new stake in shares of Tapestry in the 1st quarter valued at about $38,000. Massmutual Trust Co. FSB ADV boosted its stake in Tapestry by 54.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer's stock worth $40,000 after acquiring an additional 328 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Tapestry by 3,778.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer's stock valued at $46,000 after purchasing an additional 1,209 shares during the period. Finally, Blue Trust Inc. increased its stake in Tapestry by 111.9% in the second 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 in the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Up 0.7 %

TPR traded up $0.29 during trading on Thursday, reaching $42.04. 2,094,005 shares of the stock were exchanged, compared to its average volume of 3,292,591. The stock has a market cap of $9.66 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.50 and a beta of 1.54. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14. The stock's 50 day moving average price is $40.47 and its two-hundred day moving average price is $42.22. Tapestry, Inc. has a twelve month low of $25.99 and a twelve month high of $48.80.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (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 analysts' expectations of $1.58 billion. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. Tapestry's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 EPS. Equities analysts expect that Tapestry, Inc. will post 4.47 EPS for the current year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, September 6th. Tapestry's dividend payout ratio (DPR) is presently 37.04%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TPR shares. Argus restated a "buy" rating and issued a $52.00 price objective on shares of Tapestry in a research report on Tuesday, June 18th. StockNews.com upgraded Tapestry from a "hold" rating to a "buy" rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of Tapestry from $54.00 to $51.00 and set an "overweight" rating on the stock in a report on Friday, August 16th. Telsey Advisory Group reiterated an "outperform" rating and set a $54.00 target price on shares of Tapestry in a report on Thursday, August 15th. Finally, Citigroup cut their price target on Tapestry from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $46.13.

Tapestry Company 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.