Tapestry, Inc. (NYSE:TPR) Stock Holdings Decreased by Vanguard Group Inc.

Vanguard Group Inc. decreased its position in Tapestry, Inc. (NYSE:TPR) by 0.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 31,495,231 shares of the luxury accessories retailer’s stock after selling 59,187 shares during the period. Vanguard Group Inc. owned about 13.73% of Tapestry worth $1,159,339,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC acquired a new stake in shares of Tapestry in the fourth quarter worth $109,000. Goldman Sachs Group Inc. boosted its position in Tapestry by 41.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,272,950 shares of the luxury accessories retailer’s stock worth $46,857,000 after acquiring an additional 371,724 shares during the period. Winslow Asset Management Inc. grew its stake in Tapestry by 14.7% during the 4th quarter. Winslow Asset Management Inc. now owns 109,021 shares of the luxury accessories retailer’s stock valued at $4,013,000 after acquiring an additional 13,962 shares in the last quarter. Gotham Asset Management LLC increased its holdings in shares of Tapestry by 41.0% in the 4th quarter. Gotham Asset Management LLC now owns 394,527 shares of the luxury accessories retailer’s stock valued at $14,523,000 after purchasing an additional 114,704 shares during the period. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Tapestry in the fourth quarter worth approximately $1,142,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of TPR opened at $41.31 on Friday. The company has a debt-to-equity ratio of 2.77, a current ratio of 6.59 and a quick ratio of 5.98. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The company’s fifty day moving average price is $41.38 and its 200 day moving average price is $41.37. The company has a market capitalization of $9.49 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 0.89 and a beta of 1.60.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. Tapestry had a return on equity of 39.78% and a net margin of 13.15%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, analysts expect that Tapestry, Inc. will post 4.22 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.39%. Tapestry’s payout ratio is 37.04%.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 2,500 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $42.23, for a total value of $105,575.00. Following the completion of the sale, the vice president now directly owns 37,173 shares of the company’s stock, valued at approximately $1,569,815.79. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Tapestry from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Jefferies Financial Group lowered Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Thursday, February 29th. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Telsey Advisory Group reiterated an “outperform” rating and set a $54.00 price target on shares of Tapestry in a report on Thursday, May 9th. Finally, Robert W. Baird dropped their price objective on Tapestry from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Six 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 stock currently has an average rating of “Moderate Buy” and an average target price of $48.53.

Tapestry 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.