Tapestry, Inc. (NYSE:TPR) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its position in Tapestry, Inc. (NYSE:TPR) by 87.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,494 shares of the luxury accessories retailer’s stock after selling 37,108 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Tapestry were worth $201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. MetLife Investment Management LLC raised its holdings in Tapestry by 20.1% in the 1st quarter. MetLife Investment Management LLC now owns 73,011 shares of the luxury accessories retailer’s stock valued at $2,712,000 after acquiring an additional 12,222 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Tapestry by 2.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,323 shares of the luxury accessories retailer’s stock valued at $1,312,000 after purchasing an additional 788 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in Tapestry by 1.9% during the first quarter. Great West Life Assurance Co. Can now owns 56,357 shares of the luxury accessories retailer’s stock worth $2,176,000 after buying an additional 1,045 shares during the period. Sei Investments Co. boosted its stake in Tapestry by 34.5% in the 1st quarter. Sei Investments Co. now owns 435,569 shares of the luxury accessories retailer’s stock worth $16,189,000 after buying an additional 111,610 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Tapestry by 955.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock valued at $41,000 after buying an additional 994 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TPR. Telsey Advisory Group reissued an “outperform” rating and issued a $54.00 target price on shares of Tapestry in a research report on Wednesday, March 27th. Jefferies Financial Group cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Thursday, February 29th. Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $30.00 to $50.00 in a report on Monday, February 5th. Raymond James upped their price target on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Finally, TheStreet upgraded Tapestry from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.81.

Tapestry Stock Up 0.1 %

NYSE TPR opened at $40.87 on Wednesday. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80. The business has a 50 day moving average price of $45.56 and a two-hundred day moving average price of $37.38. The stock has a market cap of $9.37 billion, a PE ratio of 10.32, a P/E/G ratio of 0.84 and a beta of 1.57.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 earnings per share. As a group, sell-side analysts predict that Tapestry, Inc. will post 4.25 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.43%. Tapestry’s dividend payout ratio is presently 35.35%.

Tapestry 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.