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

Cwm LLC cut its position in shares of Tapestry, Inc. (NYSE:TPR) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,622 shares of the luxury accessories retailer’s stock after selling 1,380 shares during the quarter. Cwm LLC’s holdings in Tapestry were worth $980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPR. Invesco Ltd. boosted its position in shares of Tapestry by 37.8% in the third quarter. Invesco Ltd. now owns 4,394,913 shares of the luxury accessories retailer’s stock worth $126,354,000 after buying an additional 1,205,207 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of Tapestry in the third quarter worth about $34,010,000. Pacer Advisors Inc. boosted its position in shares of Tapestry by 60.1% in the fourth quarter. Pacer Advisors Inc. now owns 3,108,486 shares of the luxury accessories retailer’s stock worth $114,423,000 after buying an additional 1,167,231 shares during the period. Ameriprise Financial Inc. boosted its holdings in Tapestry by 28.2% in the third quarter. Ameriprise Financial Inc. now owns 5,249,047 shares of the luxury accessories retailer’s stock valued at $150,916,000 after purchasing an additional 1,154,808 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Tapestry by 27.3% in the third quarter. American Century Companies Inc. now owns 4,485,046 shares of the luxury accessories retailer’s stock valued at $128,945,000 after purchasing an additional 960,881 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Up 1.7 %

TPR opened at $40.05 on Monday. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $48.80. 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 stock has a market cap of $9.19 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.82 and a beta of 1.57. The stock’s 50 day moving average price is $45.04 and its 200 day moving average price is $38.07.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.17. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $1.36 EPS. As a group, research analysts predict that Tapestry, Inc. will post 4.23 earnings per share for the current 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 paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Thursday, March 7th. Tapestry’s payout ratio is currently 35.35%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TPR shares. Telsey Advisory Group reissued an “outperform” rating and issued a $54.00 price target on shares of Tapestry in a report on Wednesday, March 27th. Wells Fargo & Company increased their price target on Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Raymond James increased their price target on Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Finally, OTR Global reissued a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.81.

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.