North Growth Management Ltd. Buys 1,000 Shares of Tapestry, Inc. (NYSE:TPR)

North Growth Management Ltd. lifted its stake in Tapestry, Inc. (NYSE:TPR) by 0.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 290,000 shares of the luxury accessories retailer’s stock after buying an additional 1,000 shares during the period. Tapestry makes up approximately 2.6% of North Growth Management Ltd.’s portfolio, making the stock its 12th biggest holding. North Growth Management Ltd.’s holdings in Tapestry were worth $13,617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Lebenthal Global Advisors LLC lifted its position in Tapestry by 2.8% in the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after purchasing an additional 215 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Tapestry by 12.9% during the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock worth $104,000 after purchasing an additional 249 shares during the period. Legend Financial Advisors Inc. boosted its holdings in shares of Tapestry by 1.9% during the second quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock worth $581,000 after purchasing an additional 257 shares during the period. GAMMA Investing LLC increased its holdings in Tapestry by 4.8% during the 3rd quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock valued at $286,000 after purchasing an additional 280 shares during the period. Finally, MUFG Securities EMEA plc raised its position in Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after purchasing an additional 317 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup raised their price target on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America lifted their target price on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 25th. TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a report on Tuesday, October 29th. Robert W. Baird upped their target price on Tapestry from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday. Finally, StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Tapestry Trading Down 1.3 %

NYSE:TPR opened at $51.55 on Tuesday. Tapestry, Inc. has a 52 week low of $27.91 and a 52 week high of $52.76. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.94 and a beta of 1.53. The company’s 50 day moving average price is $45.49 and its 200-day moving average price is $42.59. The company has a quick ratio of 4.66, a current ratio of 4.93 and a debt-to-equity ratio of 2.35.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the company earned $0.95 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Tapestry, Inc. will post 4.54 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is 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.