Tapestry, Inc. (NYSE:TPR) Shares Sold by Interval Partners LP

Interval Partners LP cut its holdings in Tapestry, Inc. (NYSE:TPR) by 85.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 102,675 shares of the luxury accessories retailer’s stock after selling 622,133 shares during the period. Interval Partners LP’s holdings in Tapestry were worth $4,393,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Janney Montgomery Scott LLC lifted its stake in shares of Tapestry by 35.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,110 shares of the luxury accessories retailer’s stock worth $851,000 after acquiring an additional 6,097 shares during the period. Quadrant Capital Group LLC boosted its stake in Tapestry by 130.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,500 shares of the luxury accessories retailer’s stock valued at $55,000 after purchasing an additional 848 shares in the last quarter. Norges Bank acquired a new position in shares of Tapestry during the 4th quarter valued at $79,352,000. Coldstream Capital Management Inc. bought a new stake in shares of Tapestry in the 4th quarter worth $267,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Tapestry by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 399,372 shares of the luxury accessories retailer’s stock valued at $14,701,000 after buying an additional 87,172 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Up 3.6 %

TPR opened at $44.12 on Tuesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 5.14 and a quick ratio of 4.66. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.55 and a beta of 1.54. The business has a 50 day simple moving average of $40.59 and a two-hundred day simple moving average of $41.94.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Analysts predict that Tapestry, Inc. will post 4.47 EPS for the current year.

Tapestry Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.