Primecap Management Co. CA Has $28.91 Million Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Primecap Management Co. CA boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 675,575 shares of the luxury accessories retailer's stock after buying an additional 16,382 shares during the period. Primecap Management Co. CA owned about 0.29% of Tapestry worth $28,908,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of TPR. Principal Securities Inc. bought a new position in shares of Tapestry during the 4th quarter worth approximately $57,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Tapestry by 4.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,003 shares of the luxury accessories retailer's stock valued at $479,000 after purchasing an additional 564 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Tapestry by 35.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,110 shares of the luxury accessories retailer's stock worth $851,000 after purchasing an additional 6,097 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Tapestry by 130.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,500 shares of the luxury accessories retailer's stock worth $55,000 after purchasing an additional 848 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new position in Tapestry during the 4th quarter valued at about $224,000. Institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. StockNews.com cut shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Tuesday. UBS Group dropped their price target on Tapestry from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, August 16th. Citigroup cut their price objective on Tapestry from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. decreased their target price on Tapestry from $54.00 to $51.00 and set an "overweight" rating on the stock in a report on Friday, August 16th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $54.00 target price on shares of Tapestry in a research note on Thursday, August 15th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and a consensus target price of $47.07.

Tapestry Stock Down 0.3 %

Shares of NYSE TPR traded down $0.15 during mid-day trading on Wednesday, reaching $43.13. 2,115,418 shares of the company's stock were exchanged, compared to its average volume of 3,263,007. The company has a current ratio of 5.14, a quick ratio of 4.66 and a debt-to-equity ratio of 2.39. Tapestry, Inc. has a twelve month low of $25.99 and a twelve month high of $48.80. The business has a fifty day simple moving average of $40.58 and a 200 day simple moving average of $42.06. The firm has a market capitalization of $9.91 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.55 and a beta of 1.54.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The business's quarterly revenue was down 1.8% compared to the same quarter last year. As a group, equities analysts expect that Tapestry, Inc. will post 4.47 EPS for the current fiscal year.

Tapestry Dividend Announcement

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 given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Friday, September 6th. Tapestry's dividend payout ratio is 37.04%.

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.