Rhumbline Advisers Has $25.97 Million Position in Tapestry, Inc. (NYSE:TPR)

Rhumbline Advisers reduced its holdings in Tapestry, Inc. (NYSE:TPR) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 397,535 shares of the luxury accessories retailer’s stock after selling 5,546 shares during the period. Rhumbline Advisers owned approximately 0.17% of Tapestry worth $25,971,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TPR. Waldron Private Wealth LLC acquired a new position in Tapestry in the third quarter valued at approximately $25,000. Brooklyn Investment Group acquired a new position in Tapestry in the third quarter valued at approximately $47,000. Deseret Mutual Benefit Administrators lifted its holdings in Tapestry by 68.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after buying an additional 605 shares during the period. Transamerica Financial Advisors Inc. lifted its holdings in Tapestry by 159,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after buying an additional 1,591 shares during the period. Finally, UMB Bank n.a. increased its stake in Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after purchasing an additional 496 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Price Performance

NYSE:TPR opened at $89.16 on Thursday. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. The firm has a market cap of $18.46 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 2.03 and a beta of 1.58. The firm’s 50-day simple moving average is $71.70 and its 200 day simple moving average is $55.93. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter last year, the business earned $1.63 EPS. As a group, sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio is currently 40.58%.

Analyst Upgrades and Downgrades

TPR has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on shares of Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. Wells Fargo & Company upped their target price on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Daiwa America raised shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. Telsey Advisory Group upped their target price on shares of Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Bank of America upped their target price on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $76.63.

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.