Ropes Wealth Advisors LLC increased its holdings in shares of Tapestry Inc (NYSE:TPR) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,339 shares of the luxury accessories retailer’s stock after buying an additional 360 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Tapestry were worth $563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Claybrook Capital LLC purchased a new position in Tapestry during the 4th quarter worth $34,000. Advisory Services Network LLC grew its stake in Tapestry by 47.1% during the 4th quarter. Advisory Services Network LLC now owns 1,374 shares of the luxury accessories retailer’s stock worth $46,000 after buying an additional 440 shares during the last quarter. Pearl River Capital LLC purchased a new position in Tapestry during the 4th quarter worth $66,000. Lenox Wealth Management Inc. grew its stake in Tapestry by 827.1% during the 4th quarter. Lenox Wealth Management Inc. now owns 2,021 shares of the luxury accessories retailer’s stock worth $340,000 after buying an additional 1,803 shares during the last quarter. Finally, Moody National Bank Trust Division grew its stake in Tapestry by 21.2% during the 4th quarter. Moody National Bank Trust Division now owns 2,096 shares of the luxury accessories retailer’s stock worth $70,000 after buying an additional 366 shares during the last quarter. Hedge funds and other institutional investors own 90.84% of the company’s stock.
NYSE TPR traded down $0.23 during trading hours on Monday, reaching $32.34. The company’s stock had a trading volume of 81,659 shares, compared to its average volume of 4,100,796. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.17 and a beta of 0.71. Tapestry Inc has a 1-year low of $30.69 and a 1-year high of $55.50. The company has a current ratio of 2.62, a quick ratio of 1.94 and a debt-to-equity ratio of 0.46.
Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 7th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.86 billion. Tapestry had a return on equity of 23.84% and a net margin of 12.18%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. Equities analysts predict that Tapestry Inc will post 2.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a dividend of $0.3375 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.35 annualized dividend and a yield of 4.17%. Tapestry’s dividend payout ratio (DPR) is currently 51.33%.
Several analysts have weighed in on the company. TheStreet downgraded Tapestry from a “b-” rating to a “c+” rating in a research note on Thursday, March 7th. Macquarie set a $40.00 price objective on Tapestry and gave the company a “hold” rating in a report on Friday, February 8th. ValuEngine cut Tapestry from a “sell” rating to a “strong sell” rating in a report on Thursday, March 14th. Needham & Company LLC decreased their price objective on Tapestry to $42.00 and set a “buy” rating for the company in a report on Friday, February 8th. Finally, Zacks Investment Research cut Tapestry from a “buy” rating to a “hold” rating in a report on Monday, February 4th. One 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 company currently has a consensus rating of “Buy” and a consensus target price of $49.75.
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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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