Radnor Capital Management LLC Decreases Position in Tapestry, Inc. (NYSE:TPR)

Radnor Capital Management LLC decreased its position in Tapestry, Inc. (NYSE:TPR) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,495 shares of the luxury accessories retailer’s stock after selling 885 shares during the period. Radnor Capital Management LLC’s holdings in Tapestry were worth $641,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC increased its holdings in shares of Tapestry by 0.9% in the 1st quarter. CWM LLC now owns 26,859 shares of the luxury accessories retailer’s stock worth $1,275,000 after buying an additional 237 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in Tapestry by 5.7% in the third quarter. Raleigh Capital Management Inc. now owns 5,463 shares of the luxury accessories retailer’s stock valued at $157,000 after acquiring an additional 297 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Tapestry by 0.3% during the third quarter. Treasurer of the State of North Carolina now owns 109,837 shares of the luxury accessories retailer’s stock valued at $3,158,000 after purchasing an additional 353 shares in the last quarter. AllSquare Wealth Management LLC lifted its stake in Tapestry by 35.1% during the third quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock worth $47,000 after purchasing an additional 423 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Tapestry by 15.2% in the 1st quarter. GAMMA Investing LLC now owns 3,263 shares of the luxury accessories retailer’s stock worth $155,000 after purchasing an additional 430 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on TPR shares. Bernstein Bank boosted their target price on Tapestry from $46.00 to $48.00 in a research report on Thursday, May 9th. Argus restated a “buy” rating and issued a $52.00 price objective on shares of Tapestry in a report on Tuesday, June 18th. OTR Global reaffirmed a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. JPMorgan Chase & Co. lowered their price target on shares of Tapestry from $56.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Finally, Robert W. Baird reduced their price objective on Tapestry from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.53.

Tapestry Price Performance

TPR opened at $41.64 on Monday. The company has a debt-to-equity ratio of 2.77, a quick ratio of 5.98 and a current ratio of 6.59. The stock has a market capitalization of $9.57 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 0.90 and a beta of 1.60. The stock’s 50 day moving average price is $41.39 and its 200-day moving average price is $41.55. Tapestry, Inc. has a 52-week low of $25.99 and a 52-week high of $48.80.

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

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Friday, June 7th. Tapestry’s payout ratio is currently 37.04%.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $42.23, for a total transaction of $105,575.00. Following the transaction, the vice president now owns 37,173 shares in the company, valued at approximately $1,569,815.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.93% of the stock is currently owned by company insiders.

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.