Fox Run Management L.L.C. Purchases 2,881 Shares of Tapestry, Inc. $TPR

Fox Run Management L.L.C. lifted its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 55.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,066 shares of the luxury accessories retailer's stock after acquiring an additional 2,881 shares during the period. Fox Run Management L.L.C.'s holdings in Tapestry were worth $568,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its position in Tapestry by 30.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 13,643 shares of the luxury accessories retailer's stock valued at $882,000 after buying an additional 3,155 shares in the last quarter. Mariner LLC increased its position in Tapestry by 10.5% during the 4th quarter. Mariner LLC now owns 39,486 shares of the luxury accessories retailer's stock valued at $2,580,000 after buying an additional 3,736 shares in the last quarter. XTX Topco Ltd bought a new position in Tapestry during the 4th quarter valued at approximately $574,000. NewEdge Advisors LLC increased its position in Tapestry by 348.5% during the 4th quarter. NewEdge Advisors LLC now owns 71,998 shares of the luxury accessories retailer's stock valued at $4,704,000 after buying an additional 55,945 shares in the last quarter. Finally, GeoWealth Management LLC increased its position in Tapestry by 90.4% during the 4th quarter. GeoWealth Management LLC now owns 6,993 shares of the luxury accessories retailer's stock valued at $457,000 after buying an additional 3,320 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Citigroup raised their price objective on Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Raymond James Financial reaffirmed an "outperform" rating and set a $115.00 price objective (up previously from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Wells Fargo & Company raised their price objective on Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday. TD Cowen raised Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price for the company in a report on Thursday, June 12th. Finally, Argus lifted their target price on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Tapestry currently has a consensus rating of "Moderate Buy" and an average price target of $105.47.

Tapestry Stock Performance

TPR stock opened at $100.90 on Monday. The company has a market cap of $20.96 billion, a P/E ratio of 160.16, a price-to-earnings-growth ratio of 2.54 and a beta of 1.51. Tapestry, Inc. has a 1 year low of $39.10 and a 1 year high of $114.05. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The stock's fifty day moving average price is $96.88 and its 200-day moving average price is $82.78.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%. The company's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. On average, equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a $0.40 dividend. This is an increase from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date is Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.6%. Tapestry's dividend payout ratio (DPR) is 222.22%.

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.

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