Yousif Capital Management LLC Has $1.27 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Yousif Capital Management LLC trimmed its stake in shares of Tapestry, Inc. (NYSE:TPR) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,412 shares of the luxury accessories retailer’s stock after selling 1,972 shares during the period. Yousif Capital Management LLC’s holdings in Tapestry were worth $1,267,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in Tapestry by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 31,554,418 shares of the luxury accessories retailer’s stock valued at $907,190,000 after buying an additional 173,111 shares during the last quarter. FMR LLC increased its position 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 purchasing an additional 280,959 shares during the period. Victory Capital Management Inc. raised its holdings in 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 purchasing an additional 305,658 shares during the last quarter. Ninety One UK Ltd lifted its position in Tapestry by 12.7% during the 4th quarter. Ninety One UK Ltd now owns 5,321,308 shares of the luxury accessories retailer’s stock valued at $195,877,000 after purchasing an additional 597,715 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of 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 purchasing an additional 1,154,808 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TPR shares. Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $30.00 to $50.00 in a report on Monday, February 5th. The Goldman Sachs Group upped their target price on shares of Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 9th. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. OTR Global restated a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $54.00 target price on shares of Tapestry in a report on Wednesday, March 27th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Tapestry has an average rating of “Moderate Buy” and a consensus price target of $47.81.

Tapestry Price Performance

Shares of TPR opened at $39.24 on Friday. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90. Tapestry, Inc. has a twelve month low of $25.99 and a twelve month high of $48.80. The stock has a market capitalization of $9.00 billion, a P/E ratio of 9.91, a P/E/G ratio of 0.81 and a beta of 1.61. The company has a 50 day moving average of $44.47 and a 200-day moving average of $38.26.

Tapestry (NYSE:TPR) last released its 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 business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. Tapestry’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 earnings per share. As a group, equities research analysts forecast that Tapestry, Inc. will post 4.23 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, March 7th. 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.