Hancock Whitney Corp Has $596,000 Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Hancock Whitney Corp lowered its position in shares of Tapestry, Inc. (NYSE:TPR) by 2.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,921 shares of the luxury accessories retailer’s stock after selling 406 shares during the quarter. Hancock Whitney Corp’s holdings in Tapestry were worth $596,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TPR. CWM LLC grew its position in Tapestry by 0.9% in the first quarter. CWM LLC now owns 26,859 shares of the luxury accessories retailer’s stock valued at $1,275,000 after purchasing an additional 237 shares in the last quarter. Mather Group LLC. increased its position in shares of Tapestry by 12.9% in the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock valued at $104,000 after acquiring an additional 249 shares during the last quarter. Legend Financial Advisors Inc. increased its position in shares of Tapestry by 1.9% in the second quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock valued at $581,000 after acquiring an additional 257 shares during the last quarter. Empirical Finance LLC boosted its position in Tapestry by 3.3% during the first quarter. Empirical Finance LLC now owns 8,742 shares of the luxury accessories retailer’s stock valued at $415,000 after purchasing an additional 276 shares during the last quarter. Finally, MUFG Securities EMEA plc grew its stake in Tapestry by 34.9% in the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after purchasing an additional 317 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TPR. UBS Group dropped their price objective on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Wells Fargo & Company lowered their price target on Tapestry from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of Tapestry in a research report on Thursday, August 15th. Finally, Argus reaffirmed a “buy” rating and set a $52.00 price target on shares of Tapestry in a report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $47.07.

Tapestry Price Performance

Shares of NYSE TPR opened at $44.12 on Tuesday. The stock has a market capitalization of $10.14 billion, a PE ratio of 11.67, a P/E/G ratio of 1.55 and a beta of 1.54. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80. The company has a debt-to-equity ratio of 2.39, a current ratio of 5.14 and a quick ratio of 4.66. The business has a fifty day moving average price of $40.59 and a two-hundred day moving average price of $41.94.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 EPS. As a group, equities analysts predict that Tapestry, Inc. will post 4.47 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were paid a $0.35 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.17%. Tapestry’s payout ratio is currently 37.04%.

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.