Landsberg Bennett & Dubbaneh LLC grew its holdings in shares of Tapestry Inc (NYSE:TPR) by 9.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,086 shares of the luxury accessories retailer’s stock after purchasing an additional 1,780 shares during the period. Landsberg Bennett & Dubbaneh LLC’s holdings in Tapestry were worth $629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Nelson Roberts Investment Advisors LLC acquired a new position in shares of Tapestry during the first quarter valued at $26,000. Avestar Capital LLC increased its holdings in shares of Tapestry by 2,225.0% during the first quarter. Avestar Capital LLC now owns 1,209 shares of the luxury accessories retailer’s stock valued at $39,000 after purchasing an additional 1,157 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Tapestry by 1,079.0% during the first quarter. Quadrant Capital Group LLC now owns 1,403 shares of the luxury accessories retailer’s stock valued at $44,000 after purchasing an additional 1,284 shares during the period. Advisory Services Network LLC increased its holdings in shares of Tapestry by 47.1% during the fourth quarter. Advisory Services Network LLC now owns 1,374 shares of the luxury accessories retailer’s stock valued at $46,000 after purchasing an additional 440 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Tapestry during the first quarter valued at $66,000. 87.93% of the stock is currently owned by institutional investors.

In other Tapestry news, Director Darrell Cavens acquired 7,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average cost of $30.01 per share, for a total transaction of $210,070.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Annabelle Yu Long sold 3,229 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $28.93, for a total value of $93,414.97. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

A number of research analysts have recently commented on the company. OTR Global lowered Tapestry to a “positive” rating in a report on Tuesday, April 23rd. Piper Jaffray Companies set a $40.00 target price on Tapestry and gave the stock a “buy” rating in a report on Monday, June 10th. Canaccord Genuity lowered their target price on Cronos Group from C$17.00 to C$16.00 in a report on Friday, May 10th. Zacks Investment Research lowered Genprex from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Finally, Standpoint Research raised Tapestry from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $46.84.

Shares of NYSE:TPR traded down $0.20 during midday trading on Friday, reaching $30.62. The company had a trading volume of 2,694,825 shares, compared to its average volume of 3,272,730. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.86 and a current ratio of 2.67. Tapestry Inc has a 1-year low of $27.93 and a 1-year high of $54.35. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.01 and a beta of 0.88. The company has a fifty day simple moving average of $30.40.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. Tapestry had a return on equity of 22.08% and a net margin of 11.78%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company posted $0.54 EPS. Tapestry’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts forecast that Tapestry Inc will post 2.58 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were given a $0.3375 dividend. The ex-dividend date was Thursday, June 6th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 4.41%. Tapestry’s dividend payout ratio (DPR) is 51.33%.

About Tapestry

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.

See Also: Sell-Side Analysts

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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