Capital Analysts LLC Sells 365 Shares of Tapestry, Inc. (NYSE:TPR)

Capital Analysts LLC cut its holdings in Tapestry, Inc. (NYSE:TPR) by 20.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,464 shares of the luxury accessories retailer’s stock after selling 365 shares during the period. Capital Analysts LLC’s holdings in Tapestry were worth $54,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Tapestry by 2.4% during the first quarter. Vanguard Group Inc. now owns 32,654,335 shares of the luxury accessories retailer’s stock valued at $1,213,109,000 after purchasing an additional 751,210 shares during the period. BlackRock Inc. grew its holdings in Tapestry by 3.2% during the first quarter. BlackRock Inc. now owns 16,155,279 shares of the luxury accessories retailer’s stock valued at $696,454,000 after purchasing an additional 505,189 shares during the period. FMR LLC grew its holdings in Tapestry by 2.0% during the third quarter. FMR LLC now owns 14,018,492 shares of the luxury accessories retailer’s stock valued at $403,032,000 after purchasing an additional 280,959 shares during the period. State Street Corp grew its holdings in Tapestry by 1.7% during the second quarter. State Street Corp now owns 9,588,682 shares of the luxury accessories retailer’s stock valued at $410,396,000 after purchasing an additional 160,015 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Tapestry by 4.7% during the third quarter. Victory Capital Management Inc. now owns 6,823,763 shares of the luxury accessories retailer’s stock valued at $196,183,000 after purchasing an additional 305,658 shares during the period. 90.77% of the stock is owned by institutional investors.

Tapestry Trading Up 0.3 %

Shares of TPR stock opened at $40.63 on Friday. The business’s fifty day moving average is $45.49 and its 200 day moving average is $37.51. Tapestry, Inc. has a 52-week low of $25.99 and a 52-week high of $48.80. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25. The company has a market capitalization of $9.32 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 0.83 and a beta of 1.57.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.17. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the business posted $1.36 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts anticipate that Tapestry, Inc. will post 4.25 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.45%. Tapestry’s payout ratio is 35.35%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TPR shares. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a report on Thursday. Raymond James raised their price target on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. TheStreet raised Tapestry from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. The Goldman Sachs Group raised their price target on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Jefferies Financial Group lowered Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a report on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.81.

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.