ZWJ Investment Counsel Inc. Has $8.74 Million Stock Holdings in Tapestry, Inc. (NYSE:TPR)

ZWJ Investment Counsel Inc. lowered its stake in shares of Tapestry, Inc. (NYSE:TPR) by 7.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 185,983 shares of the luxury accessories retailer’s stock after selling 14,110 shares during the period. ZWJ Investment Counsel Inc. owned approximately 0.08% of Tapestry worth $8,737,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vontobel Holding Ltd. boosted its stake in Tapestry by 4.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 18,646 shares of the luxury accessories retailer’s stock valued at $876,000 after purchasing an additional 789 shares during the last quarter. Swedbank AB boosted its stake in Tapestry by 9.2% during the 3rd quarter. Swedbank AB now owns 1,092,260 shares of the luxury accessories retailer’s stock valued at $51,314,000 after purchasing an additional 92,458 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Tapestry by 102.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,680 shares of the luxury accessories retailer’s stock valued at $831,000 after purchasing an additional 8,958 shares during the last quarter. Juncture Wealth Strategies LLC acquired a new position in Tapestry during the 3rd quarter valued at about $291,000. Finally, CWM LLC boosted its stake in Tapestry by 108.8% during the 3rd quarter. CWM LLC now owns 80,060 shares of the luxury accessories retailer’s stock valued at $3,761,000 after purchasing an additional 41,712 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TPR shares. Citigroup cut their price target on Tapestry from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. dropped their target price on shares of Tapestry from $54.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Wells Fargo & Company lowered their price target on shares of Tapestry from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. Finally, Evercore ISI lowered their price target on shares of Tapestry from $53.00 to $47.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.07.

Tapestry Stock Up 0.6 %

TPR opened at $45.47 on Thursday. The company has a fifty day moving average price of $42.59 and a 200-day moving average price of $41.84. The firm has a market capitalization of $10.45 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 1.67 and a beta of 1.53. The company has a debt-to-equity ratio of 2.39, a current ratio of 5.14 and a quick ratio of 4.66. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, beating 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 firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business earned $0.95 EPS. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities research analysts expect that Tapestry, Inc. will post 4.47 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were given a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.40 annualized dividend and a yield of 3.08%. Tapestry’s dividend payout ratio (DPR) is presently 37.04%.

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.