Tapestry, Inc. (NYSE:TPR) Position Lowered by Signaturefd LLC

Signaturefd LLC decreased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 26.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,245 shares of the luxury accessories retailer’s stock after selling 447 shares during the quarter. Signaturefd LLC’s holdings in Tapestry were worth $46,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Tapestry by 0.6% during the third quarter. Vanguard Group Inc. now owns 31,554,418 shares of the luxury accessories retailer’s stock worth $907,190,000 after purchasing an additional 173,111 shares during the last quarter. FMR LLC lifted its holdings in Tapestry by 2.0% in the third quarter. FMR LLC now owns 14,018,492 shares of the luxury accessories retailer’s stock worth $403,032,000 after acquiring an additional 280,959 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Tapestry by 4.7% in the third quarter. Victory Capital Management Inc. now owns 6,823,763 shares of the luxury accessories retailer’s stock worth $196,183,000 after acquiring an additional 305,658 shares during the last quarter. Ninety One UK Ltd lifted its holdings in Tapestry by 12.7% in the fourth quarter. Ninety One UK Ltd now owns 5,321,308 shares of the luxury accessories retailer’s stock worth $195,877,000 after acquiring an additional 597,715 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted 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 worth $150,916,000 after acquiring an additional 1,154,808 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 1.8 %

Tapestry stock opened at $38.79 on Friday. 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 firm has a market cap of $8.90 billion, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 0.82 and a beta of 1.61. Tapestry, Inc. has a 1 year low of $25.99 and a 1 year high of $48.80. The firm’s 50 day moving average price is $44.65 and its two-hundred day moving average price is $38.26.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.17. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the business posted $1.36 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, research analysts predict that Tapestry, Inc. will post 4.23 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently disclosed 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. This represents a $1.40 annualized dividend and a yield of 3.61%. The ex-dividend date was Thursday, March 7th. Tapestry’s payout ratio is 35.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TPR shares. The Goldman Sachs Group raised their target price on shares of Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Jefferies Financial Group cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a report on Thursday, February 29th. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Wells Fargo & Company raised their target price on shares of Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Evercore ISI raised Tapestry from an “in-line” rating to an “outperform” rating and lifted 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.