Oppenheimer Asset Management Inc. Grows Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Oppenheimer Asset Management Inc. raised its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 10.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 97,361 shares of the luxury accessories retailer's stock after buying an additional 9,142 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Tapestry were worth $4,574,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital Research Global Investors lifted its stake in shares of Tapestry by 8.5% in the first quarter. Capital Research Global Investors now owns 6,238,670 shares of the luxury accessories retailer's stock worth $296,212,000 after buying an additional 489,933 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Tapestry by 53.1% in the 2nd quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer's stock valued at $257,623,000 after acquiring an additional 2,087,586 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Tapestry by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer's stock worth $151,965,000 after purchasing an additional 165,406 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Tapestry by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer's stock worth $116,928,000 after purchasing an additional 46,760 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Tapestry by 235.9% in the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer's stock valued at $61,578,000 after purchasing an additional 1,051,743 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TPR shares. Wells Fargo & Company lifted their price objective on Tapestry from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday. Telsey Advisory Group lifted their price target on Tapestry from $58.00 to $67.00 and gave the stock an "outperform" rating in a report on Friday. The Goldman Sachs Group upped their price objective on shares of Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a report on Friday. Evercore ISI lifted their target price on shares of Tapestry from $47.00 to $63.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Finally, Robert W. Baird increased their price target on shares of Tapestry from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $57.69.

Tapestry Stock Down 1.0 %

TPR traded down $0.59 during trading hours on Friday, hitting $57.23. 4,444,887 shares of the company's stock were exchanged, compared to its average volume of 3,337,417. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. Tapestry, Inc. has a 12-month low of $29.83 and a 12-month high of $58.49. The firm has a market cap of $13.34 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 1.78 and a beta of 1.53. The firm has a 50 day moving average of $46.55 and a 200 day moving average of $42.97.

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

Tapestry Dividend Announcement

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

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.