Dumont & Blake Investment Advisors LLC Increases Stake in Tapestry, Inc. (NYSE:TPR)

Dumont & Blake Investment Advisors LLC boosted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 9.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,062 shares of the luxury accessories retailer’s stock after acquiring an additional 3,352 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Tapestry were worth $1,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in TPR. Waldron Private Wealth LLC bought a new position in Tapestry in the 3rd quarter worth about $25,000. Fidelis Capital Partners LLC bought a new stake in Tapestry during the first quarter valued at about $35,000. BNP Paribas bought a new position in shares of Tapestry during the 1st quarter valued at approximately $38,000. Massmutual Trust Co. FSB ADV raised its stake in Tapestry by 54.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after acquiring an additional 328 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after purchasing an additional 556 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Trading Up 12.1 %

Shares of TPR stock traded up $5.40 on Friday, reaching $49.87. The company had a trading volume of 2,938,636 shares, compared to its average volume of 3,166,735. The company has a 50-day moving average of $43.34 and a 200-day moving average of $41.84. The company has a current ratio of 5.14, a quick ratio of 4.66 and a debt-to-equity ratio of 2.39. The stock has a market cap of $11.46 billion, a PE ratio of 11.76, a PEG ratio of 1.67 and a beta of 1.53. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $50.32.

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 business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. Tapestry’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. On average, equities analysts forecast that Tapestry, Inc. will post 4.47 earnings per share for the current year.

Tapestry Announces Dividend

The company 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 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 37.04%.

Analysts Set New Price Targets

TPR has been the subject of a number of research reports. Evercore ISI lowered their target price on Tapestry from $53.00 to $47.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company lifted their price objective on shares of Tapestry from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup lowered their target price on shares of Tapestry from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. UBS Group lowered their price target on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Finally, StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

About Tapestry

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.