Capital Analysts LLC Sells 365 Shares of Tapestry, Inc. (NYSE:TPR)

Capital Analysts LLC decreased its stake in Tapestry, Inc. (NYSE:TPR) by 20.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,464 shares of the luxury accessories retailer’s stock after selling 365 shares during the quarter. Capital Analysts LLC’s holdings in Tapestry were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its stake in Tapestry by 340.7% in the first quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer’s stock valued at $25,000 after buying an additional 511 shares during the period. Alpha Paradigm Partners LLC acquired a new position in Tapestry in the third quarter valued at about $26,000. Bell Investment Advisors Inc lifted its stake in Tapestry by 718.1% in the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock valued at $27,000 after buying an additional 833 shares during the period. Quarry LP lifted its stake in Tapestry by 100.8% in the second quarter. Quarry LP now owns 968 shares of the luxury accessories retailer’s stock valued at $41,000 after buying an additional 127,311 shares during the period. 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 valued at $41,000 after buying an additional 994 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TPR shares. Raymond James increased their target price on Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Wells Fargo & Company raised their price target on Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday. Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $30.00 to $50.00 in a report on Monday, February 5th. Finally, The Goldman Sachs Group increased their price objective on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.81.

Tapestry Stock Performance

Shares of NYSE TPR opened at $40.63 on Friday. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $48.80. The stock has a 50 day moving average of $45.49 and a 200-day moving average of $37.51. The company has a market capitalization of $9.32 billion, a P/E ratio of 10.26, a P/E/G ratio of 0.83 and a beta of 1.57.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping the consensus estimate of $1.46 by $0.17. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the company posted $1.36 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Tapestry, Inc. will post 4.25 EPS for the current year.

Tapestry Announces Dividend

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

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.