Tapestry, Inc. (NYSE:TPR) Shares Sold by Xponance Inc.

Xponance Inc. reduced its stake in Tapestry, Inc. (NYSE:TPR) by 16.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,016 shares of the luxury accessories retailer’s stock after selling 6,741 shares during the period. Xponance Inc.’s holdings in Tapestry were worth $1,252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TPR. Bell Investment Advisors Inc lifted its position in Tapestry by 718.1% in the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after purchasing an additional 833 shares during the period. AllSquare Wealth Management LLC lifted its holdings in shares of Tapestry by 35.1% in the third quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock valued at $47,000 after buying an additional 423 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Tapestry by 56.9% in the third quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock valued at $53,000 after buying an additional 668 shares during the period. Allworth Financial LP boosted its stake in Tapestry by 62.0% during the fourth quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer’s stock valued at $60,000 after buying an additional 620 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in Tapestry during the third quarter worth about $63,000. 90.77% of the stock is currently owned by institutional investors.

Tapestry Price Performance

Shares of TPR opened at $40.02 on Thursday. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 0.83 and a beta of 1.57. The business’s 50-day moving average is $45.28 and its 200-day moving average is $37.83. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.17. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 EPS. Equities research analysts expect that Tapestry, Inc. will post 4.24 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.50%. Tapestry’s payout ratio is 35.35%.

Analysts Set New Price Targets

TPR has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Telsey Advisory Group restated an “outperform” rating and set a $54.00 target price on shares of Tapestry in a report on Wednesday, March 27th. OTR Global reaffirmed a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. Raymond James increased 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. Finally, Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $30.00 to $50.00 in a report on Monday, February 5th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $47.81.

About Tapestry

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.