Investors Research Corp Cuts Position in Tapestry, Inc. (NYSE:TPR)

Investors Research Corp cut its stake in Tapestry, Inc. (NYSE:TPR) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,975 shares of the luxury accessories retailer’s stock after selling 625 shares during the period. Investors Research Corp’s holdings in Tapestry were worth $698,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TPR. MetLife Investment Management LLC lifted its stake in Tapestry by 20.1% in the first quarter. MetLife Investment Management LLC now owns 73,011 shares of the luxury accessories retailer’s stock worth $2,712,000 after purchasing an additional 12,222 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Tapestry by 2.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,323 shares of the luxury accessories retailer’s stock worth $1,312,000 after purchasing an additional 788 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Tapestry by 1.9% in the first quarter. Great West Life Assurance Co. Can now owns 56,357 shares of the luxury accessories retailer’s stock worth $2,176,000 after purchasing an additional 1,045 shares during the last quarter. Sei Investments Co. lifted its stake in Tapestry by 34.5% in the first quarter. Sei Investments Co. now owns 435,569 shares of the luxury accessories retailer’s stock worth $16,189,000 after purchasing an additional 111,610 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Tapestry by 955.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock worth $41,000 after purchasing an additional 994 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on TPR shares. Telsey Advisory Group reissued an “outperform” rating and issued a $54.00 price target on shares of Tapestry in a research note on Wednesday, March 27th. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Wells Fargo & Company upped their price objective on shares of Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. TheStreet raised shares of Tapestry from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. Finally, Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Thursday, February 29th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.81.

Tapestry Stock Down 0.2 %

Shares of NYSE:TPR traded down $0.08 during trading on Monday, reaching $41.06. 1,461,208 shares of the stock traded hands, compared to its average volume of 3,720,353. The stock has a 50-day moving average of $45.56 and a two-hundred day moving average of $37.21. 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 stock has a market cap of $9.42 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 0.84 and a beta of 1.57.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Tapestry, Inc. will post 4.25 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 annualized dividend and a yield of 3.41%. Tapestry’s payout ratio is presently 35.35%.

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.