Aigen Investment Management LP Has $5.07 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Aigen Investment Management LP grew its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 64.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 107,852 shares of the luxury accessories retailer's stock after purchasing an additional 42,274 shares during the quarter. Tapestry makes up approximately 1.0% of Aigen Investment Management LP's holdings, making the stock its 4th biggest holding. Aigen Investment Management LP's holdings in Tapestry were worth $5,067,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Lebenthal Global Advisors LLC boosted its holdings in Tapestry by 2.8% during the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer's stock worth $367,000 after buying an additional 215 shares in the last quarter. Mather Group LLC. lifted its position in shares of Tapestry by 12.9% in the 2nd quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer's stock valued at $104,000 after acquiring an additional 249 shares in the last quarter. Legend Financial Advisors Inc. lifted its position in shares of Tapestry by 1.9% in the 2nd quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer's stock valued at $581,000 after acquiring an additional 257 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Tapestry by 4.8% in the 3rd quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer's stock valued at $286,000 after acquiring an additional 280 shares in the last quarter. Finally, MUFG Securities EMEA plc lifted its position in shares of Tapestry by 34.9% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Price Performance

TPR stock traded down $0.34 during mid-day trading on Tuesday, reaching $51.18. The company's stock had a trading volume of 4,647,911 shares, compared to its average volume of 3,307,273. The company's 50 day moving average is $45.49 and its two-hundred day moving average is $42.59. The stock has a market cap of $11.93 billion, a PE ratio of 14.67, a P/E/G ratio of 1.94 and a beta of 1.53. The company has a current ratio of 4.93, a quick ratio of 4.66 and a debt-to-equity ratio of 2.35. Tapestry, Inc. has a fifty-two week low of $27.91 and a fifty-two week high of $52.76.

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 net margin of 12.12% and a return on equity of 36.26%. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter last year, the company posted $0.95 EPS. The firm's revenue was down 1.8% compared to the same quarter last year. Equities research analysts expect that Tapestry, Inc. will post 4.54 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given a $0.35 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.74%. Tapestry's dividend payout ratio is presently 40.46%.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of research analyst reports. TD Cowen downgraded shares of Tapestry from a "buy" rating to a "hold" rating and set a $52.00 target price for the company. in a research report on Tuesday, October 29th. StockNews.com downgraded shares of Tapestry from a "buy" rating to a "hold" rating in a report on Monday, October 28th. Evercore ISI raised their price objective 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. The Goldman Sachs Group raised their target price on Tapestry from $47.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price objective on Tapestry from $50.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Tapestry has an average rating of "Moderate Buy" and an average price target of $54.00.

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.