Harel Insurance Investments & Financial Services Ltd. Purchases New Holdings in Tapestry Inc (TPR)

Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Tapestry Inc (NYSE:TPR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,000 shares of the luxury accessories retailer’s stock, valued at approximately $201,000.

Several other large investors have also bought and sold shares of the company. Heritage Trust Co raised its holdings in shares of Tapestry by 2.4% in the 2nd quarter. Heritage Trust Co now owns 53,122 shares of the luxury accessories retailer’s stock valued at $2,481,000 after purchasing an additional 1,269 shares in the last quarter. Westpac Banking Corp grew its position in shares of Tapestry by 0.4% in the 2nd quarter. Westpac Banking Corp now owns 342,103 shares of the luxury accessories retailer’s stock worth $15,980,000 after buying an additional 1,300 shares during the last quarter. CIBC World Markets Inc. grew its position in shares of Tapestry by 24.5% in the 1st quarter. CIBC World Markets Inc. now owns 7,042 shares of the luxury accessories retailer’s stock worth $370,000 after buying an additional 1,387 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its position in shares of Tapestry by 2.2% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 65,072 shares of the luxury accessories retailer’s stock worth $3,039,000 after buying an additional 1,388 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its position in shares of Tapestry by 4.5% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 32,988 shares of the luxury accessories retailer’s stock worth $1,541,000 after buying an additional 1,415 shares during the last quarter. Institutional investors and hedge funds own 90.19% of the company’s stock.

TPR stock opened at $40.32 on Wednesday. The firm has a market capitalization of $11.94 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 1.27 and a beta of 0.43. The company has a current ratio of 2.59, a quick ratio of 1.87 and a debt-to-equity ratio of 0.49. Tapestry Inc has a 12 month low of $39.28 and a 12 month high of $55.50.



Tapestry (NYSE:TPR) last released its quarterly earnings data on Tuesday, October 30th. The luxury accessories retailer reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. Tapestry had a net margin of 6.76% and a return on equity of 24.76%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. On average, research analysts expect that Tapestry Inc will post 2.77 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 7th were paid a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Thursday, September 6th. Tapestry’s dividend payout ratio is currently 51.33%.

In related news, insider Ian Bickley sold 48,071 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $52.13, for a total value of $2,505,941.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ivan Menezes sold 2,068 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $50.70, for a total transaction of $104,847.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,602 shares of company stock valued at $2,633,939. Company insiders own 0.70% of the company’s stock.

Several research firms have weighed in on TPR. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 15th. Goldman Sachs Group set a $61.00 target price on shares of Tapestry and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Wells Fargo & Co reissued a “buy” rating on shares of Tapestry in a research report on Tuesday, August 14th. Canaccord Genuity boosted their target price on shares of Tapestry from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 15th. Finally, Loop Capital set a $59.00 target price on shares of Tapestry and gave the stock a “buy” rating in a research report on Tuesday, August 14th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $56.16.

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.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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