Lifestyle Asset Management Inc. Increases Holdings in Tapestry, Inc. (NYSE:TPR)

Lifestyle Asset Management Inc. boosted its position in Tapestry, Inc. (NYSE:TPR) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,653 shares of the luxury accessories retailer’s stock after buying an additional 790 shares during the quarter. Lifestyle Asset Management Inc.’s holdings in Tapestry were worth $1,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of TPR. Deseret Mutual Benefit Administrators lifted its stake in shares of Tapestry by 68.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after acquiring an additional 605 shares during the last quarter. Poplar Forest Capital LLC grew its position in shares of Tapestry by 14.4% in the 3rd quarter. Poplar Forest Capital LLC now owns 364,598 shares of the luxury accessories retailer’s stock worth $17,129,000 after buying an additional 45,756 shares during the last quarter. M&G PLC grew its position in shares of Tapestry by 2.8% in the 3rd quarter. M&G PLC now owns 245,512 shares of the luxury accessories retailer’s stock worth $11,539,000 after buying an additional 6,607 shares during the last quarter. Umpqua Bank purchased a new position in shares of Tapestry during the third quarter valued at approximately $208,000. Finally, Foster & Motley Inc. lifted its stake in Tapestry by 111.4% in the third quarter. Foster & Motley Inc. now owns 30,159 shares of the luxury accessories retailer’s stock worth $1,417,000 after acquiring an additional 15,895 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Up 3.6 %

Shares of Tapestry stock opened at $51.55 on Friday. Tapestry, Inc. has a twelve month low of $27.20 and a twelve month high of $52.50. The company has a market cap of $12.00 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.81 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. The company’s 50 day moving average is $45.05 and its 200 day moving average is $42.38.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.04. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the company posted $0.95 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. Research analysts anticipate that Tapestry, Inc. will post 4.46 EPS for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is presently 39.89%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $54.00 price objective on shares of Tapestry in a report on Thursday. TD Cowen downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research note on Tuesday, October 29th. The Goldman Sachs Group raised their price objective on shares of Tapestry from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, October 21st. UBS Group decreased their target price on Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Finally, Citigroup boosted their target price on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.75.

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.