Greenleaf Trust Has $343,000 Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Greenleaf Trust increased its position in shares of Tapestry, Inc. (NYSE:TPR) by 23.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,311 shares of the luxury accessories retailer’s stock after buying an additional 1,392 shares during the period. Greenleaf Trust’s holdings in Tapestry were worth $343,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mather Group LLC. lifted its position in shares of Tapestry by 12.9% during the 2nd 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 last quarter. Legend Financial Advisors Inc. lifted 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 buying an additional 257 shares during the last quarter. Empirical Finance LLC boosted its position in shares of Tapestry by 3.3% in the first quarter. Empirical Finance LLC now owns 8,742 shares of the luxury accessories retailer’s stock valued at $415,000 after acquiring an additional 276 shares during the period. GAMMA Investing LLC grew its stake in shares of Tapestry by 4.8% in the third quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock worth $286,000 after acquiring an additional 280 shares during the last quarter. Finally, MUFG Securities EMEA plc increased its position in Tapestry by 34.9% during the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after acquiring an additional 317 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TPR has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday. Evercore ISI upped their price target on Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a report on Friday. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. The Goldman Sachs Group raised their price target on Tapestry from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.73.

Tapestry Price Performance

Shares of NYSE TPR opened at $50.49 on Friday. Tapestry, Inc. has a twelve month low of $25.99 and a twelve month high of $51.58. The company has a 50 day moving average of $43.54 and a 200 day moving average of $41.89. The firm has a market cap of $11.60 billion, a P/E ratio of 13.36, a PEG ratio of 1.67 and a beta of 1.53. The company has a quick ratio of 4.66, a current ratio of 5.14 and a debt-to-equity ratio of 2.39.

Tapestry (NYSE:TPR) last issued its earnings results 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. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.95 EPS. As a group, research analysts expect that Tapestry, Inc. will post 4.47 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Friday, September 6th. Tapestry’s dividend payout ratio (DPR) is 37.04%.

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.