5,911 Shares in Tapestry, Inc. (NYSE:TPR) Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) during the 4th quarter, Holdings Channel.com reports. The fund acquired 5,911 shares of the luxury accessories retailer’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisor Partners II LLC boosted its position in shares of Tapestry by 3.0% in the 1st quarter. Advisor Partners II LLC now owns 8,043 shares of the luxury accessories retailer’s stock worth $347,000 after purchasing an additional 237 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in Tapestry by 5.7% during the third quarter. Raleigh Capital Management Inc. now owns 5,463 shares of the luxury accessories retailer’s stock valued at $157,000 after buying an additional 297 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in Tapestry by 0.3% in the third quarter. Treasurer of the State of North Carolina now owns 109,837 shares of the luxury accessories retailer’s stock worth $3,158,000 after acquiring an additional 353 shares in the last quarter. Sowell Financial Services LLC increased its holdings in shares of Tapestry by 2.1% during the third quarter. Sowell Financial Services LLC now owns 18,348 shares of the luxury accessories retailer’s stock valued at $527,000 after acquiring an additional 381 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Tapestry by 25.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,940 shares of the luxury accessories retailer’s stock valued at $73,000 after acquiring an additional 399 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

TPR opened at $40.62 on Friday. Tapestry, Inc. has a 12-month low of $25.99 and a 12-month high of $48.80. The company has a market cap of $9.32 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 0.83 and a beta of 1.57. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90. The company’s 50 day moving average is $45.49 and its 200 day moving average is $37.58.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, topping the consensus estimate 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 company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 EPS. On average, equities research analysts predict that Tapestry, Inc. will post 4.25 EPS for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Thursday, March 7th. Tapestry’s dividend payout ratio (DPR) is currently 35.35%.

Analysts Set New Price Targets

Several analysts recently commented on TPR shares. Telsey Advisory Group reissued an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a research report on Wednesday, March 27th. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Thursday, February 29th. Raymond James upped their price objective on Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. The Goldman Sachs Group lifted their target price on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Evercore ISI raised Tapestry from an “in-line” rating to an “outperform” rating and upped their price target for the company from $30.00 to $50.00 in a report on Monday, February 5th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and a consensus target price 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.