Xponance Inc. Decreases Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Xponance Inc. reduced its stake in shares of Tapestry, Inc. (NYSE:TPR) by 16.5% during the 4th quarter, according to its most recent Form 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 quarter. Xponance Inc.’s holdings in Tapestry were worth $1,252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TPR. Vanguard Group Inc. grew its holdings in shares of Tapestry by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 31,554,418 shares of the luxury accessories retailer’s stock worth $907,190,000 after acquiring an additional 173,111 shares during the period. FMR LLC increased its position in shares of Tapestry by 2.0% in the third quarter. FMR LLC now owns 14,018,492 shares of the luxury accessories retailer’s stock valued at $403,032,000 after buying an additional 280,959 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Tapestry by 4.7% during the 3rd quarter. Victory Capital Management Inc. now owns 6,823,763 shares of the luxury accessories retailer’s stock worth $196,183,000 after buying an additional 305,658 shares during the last quarter. Ninety One UK Ltd boosted its position in shares of Tapestry by 12.7% in the 4th quarter. Ninety One UK Ltd now owns 5,321,308 shares of the luxury accessories retailer’s stock worth $195,877,000 after buying an additional 597,715 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Tapestry by 28.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,249,047 shares of the luxury accessories retailer’s stock valued at $150,916,000 after acquiring an additional 1,154,808 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TPR shares. Evercore ISI upgraded shares of 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 research report on Monday, February 5th. The Goldman Sachs Group upped their target price on Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Jefferies Financial Group downgraded Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Thursday, February 29th. OTR Global restated a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Finally, Raymond James lifted their price objective on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $47.81.

Tapestry Stock Up 1.5 %

Shares of TPR opened at $40.02 on Thursday. The firm has a market cap of $9.18 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.83 and a beta of 1.57. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90. The company’s fifty day moving average is $45.28 and its two-hundred 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 announced its quarterly 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. The company 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 revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. Analysts forecast that Tapestry, Inc. will post 4.24 earnings per share for the current year.

Tapestry Dividend Announcement

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 dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.50%. Tapestry’s dividend payout ratio (DPR) is 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.