Candriam Luxembourg S.C.A. trimmed its position in shares of Tapestry Inc (NYSE:TPR) by 14.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,562 shares of the luxury accessories retailer’s stock after selling 2,993 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Tapestry were worth $593,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Claybrook Capital LLC purchased a new stake in Tapestry in the 4th quarter valued at about $34,000. Oregon Public Employees Retirement Fund boosted its position in Tapestry by 1,484.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,213,009 shares of the luxury accessories retailer’s stock valued at $36,000 after buying an additional 1,136,452 shares during the period. Pearl River Capital LLC purchased a new stake in Tapestry in the 4th quarter valued at about $66,000. Moody National Bank Trust Division boosted its position in Tapestry by 21.2% in the 4th quarter. Moody National Bank Trust Division now owns 2,096 shares of the luxury accessories retailer’s stock valued at $70,000 after buying an additional 366 shares during the period. Finally, ETF Managers Group LLC boosted its position in Tapestry by 18.0% in the 4th quarter. ETF Managers Group LLC now owns 2,523 shares of the luxury accessories retailer’s stock valued at $85,000 after buying an additional 384 shares during the period. Institutional investors own 90.57% of the company’s stock.
Shares of TPR opened at $32.71 on Friday. Tapestry Inc has a fifty-two week low of $30.69 and a fifty-two week high of $55.50. The company has a market capitalization of $9.26 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.62 and a quick ratio of 1.94.
Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 7th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.04). Tapestry had a return on equity of 23.84% and a net margin of 12.18%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the company posted $1.07 EPS. Tapestry’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities analysts expect that Tapestry Inc will post 2.6 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be given a $0.3375 dividend. The ex-dividend date is Thursday, March 7th. This represents a $1.35 annualized dividend and a dividend yield of 4.13%. Tapestry’s payout ratio is presently 51.33%.
Several equities research analysts have issued reports on TPR shares. MKM Partners lowered their price objective on shares of Tapestry to $52.00 in a research report on Monday, February 11th. Needham & Company LLC lowered their price objective on shares of Tapestry to $42.00 and set a “buy” rating for the company in a research report on Friday, February 8th. Canaccord Genuity reissued a “buy” rating and issued a $58.00 price objective on shares of Tapestry in a research report on Tuesday, February 5th. Guggenheim reissued a “buy” rating and issued a $52.00 price objective on shares of Tapestry in a research report on Tuesday, January 29th. Finally, Wells Fargo & Co set a $58.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research report on Thursday, December 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $50.00.
Tapestry Company Profile
Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.
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