Mitsubishi UFJ Trust & Banking Corp Boosts Position in Tapestry Inc (NYSE:TPR)
Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Tapestry Inc (NYSE:TPR) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 290,563 shares of the luxury accessories retailer’s stock after acquiring an additional 21,000 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.11% of Tapestry worth $7,837,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Rational Advisors LLC boosted its stake in Tapestry by 14.8% during the fourth quarter. Rational Advisors LLC now owns 2,834 shares of the luxury accessories retailer’s stock valued at $76,000 after buying an additional 366 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its holdings in shares of Tapestry by 14.8% in the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,100 shares of the luxury accessories retailer’s stock valued at $84,000 after acquiring an additional 400 shares during the period. World Asset Management Inc increased its holdings in shares of Tapestry by 1.9% in the 4th quarter. World Asset Management Inc now owns 23,042 shares of the luxury accessories retailer’s stock valued at $621,000 after acquiring an additional 434 shares during the period. Cullen Frost Bankers Inc. increased its holdings in shares of Tapestry by 21.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 2,485 shares of the luxury accessories retailer’s stock valued at $67,000 after acquiring an additional 445 shares during the period. Finally, Plimoth Trust Co. LLC increased its holdings in shares of Tapestry by 6.0% in the 4th quarter. Plimoth Trust Co. LLC now owns 10,730 shares of the luxury accessories retailer’s stock valued at $289,000 after acquiring an additional 610 shares during the period. Institutional investors and hedge funds own 88.09% of the company’s stock.
NYSE:TPR traded up $0.26 during trading hours on Thursday, reaching $15.16. 6,985,179 shares of the stock were exchanged, compared to its average volume of 6,782,387. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 1.05. The business has a 50-day moving average of $22.26 and a two-hundred day moving average of $25.27. Tapestry Inc has a twelve month low of $10.51 and a twelve month high of $36.06. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 0.73 and a beta of 0.95.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, March 6th will be given a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 8.91%. The ex-dividend date is Thursday, March 5th. Tapestry’s dividend payout ratio is currently 52.53%.
A number of analysts have recently weighed in on TPR shares. Cfra raised their price objective on Tapestry from $25.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, February 6th. Needham & Company LLC lowered their price target on Tapestry from $35.00 to $18.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Co decreased their price objective on Tapestry from $34.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Edward Jones raised Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday, December 18th. Finally, ValuEngine cut Tapestry from a “hold” rating to a “sell” rating in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $26.81.
Tapestry Company Profile
Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.
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