Umpqua Bank Makes New $208,000 Investment in Tapestry, Inc. (NYSE:TPR)

Umpqua Bank bought a new stake in Tapestry, Inc. (NYSE:TPR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,427 shares of the luxury accessories retailer’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Foster & Motley Inc. lifted its position in shares of Tapestry by 111.4% during the 3rd quarter. Foster & Motley Inc. now owns 30,159 shares of the luxury accessories retailer’s stock worth $1,417,000 after buying an additional 15,895 shares during the last quarter. Radnor Capital Management LLC acquired a new stake in shares of Tapestry in the 3rd quarter valued at approximately $894,000. Asset Management One Co. Ltd. grew its holdings in shares of Tapestry by 22.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 4,558 shares of the luxury accessories retailer’s stock valued at $214,000 after purchasing an additional 832 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Tapestry by 7.2% during the 3rd quarter. Van ECK Associates Corp now owns 111,184 shares of the luxury accessories retailer’s stock valued at $4,841,000 after purchasing an additional 7,493 shares during the last quarter. Finally, Coronation Fund Managers Ltd. increased its position in Tapestry by 33.8% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 644,142 shares of the luxury accessories retailer’s stock worth $30,262,000 after purchasing an additional 162,715 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Up 0.8 %

NYSE:TPR traded up $0.42 during trading hours on Wednesday, hitting $49.84. 188,918 shares of the company traded hands, compared to its average volume of 3,252,296. 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 has a market cap of $11.60 billion, a PE ratio of 14.08, a PEG ratio of 1.75 and a beta of 1.53. The firm’s 50-day simple moving average is $44.65 and its 200-day simple moving average is $42.27. Tapestry, Inc. has a one year low of $27.02 and a one year high of $51.96.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm posted $0.95 EPS. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities analysts predict that Tapestry, Inc. will post 4.46 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.81%. Tapestry’s dividend payout ratio (DPR) is presently 39.89%.

Analysts Set New Price Targets

TPR has been the topic of a number of research reports. TD Cowen cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a research note on Tuesday, October 29th. UBS Group lowered their price objective on Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Citigroup increased their price target on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America increased their price objective on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company increased their price target on Tapestry from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

Tapestry Company 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.