FCF Advisors LLC Boosts Stock Position in Tapestry, Inc. (NYSE:TPR)

FCF Advisors LLC lifted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 8.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,909 shares of the luxury accessories retailer’s stock after purchasing an additional 2,395 shares during the period. FCF Advisors LLC’s holdings in Tapestry were worth $1,420,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in TPR. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Tapestry during the 4th quarter valued at $117,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Tapestry by 9.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 285,989 shares of the luxury accessories retailer’s stock worth $10,527,000 after purchasing an additional 23,532 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in Tapestry in the 4th quarter worth approximately $1,107,000. Goldman Sachs Group Inc. grew its stake in Tapestry by 41.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,272,950 shares of the luxury accessories retailer’s stock valued at $46,857,000 after buying an additional 371,724 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Tapestry by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,305,257 shares of the luxury accessories retailer’s stock valued at $121,671,000 after acquiring an additional 140,347 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Up 1.5 %

NYSE:TPR traded up $0.64 during trading hours on Monday, reaching $42.28. The company’s stock had a trading volume of 267,642 shares, compared to its average volume of 3,538,172. 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 firm has a market capitalization of $9.71 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 0.90 and a beta of 1.60. The firm has a 50-day simple moving average of $41.39 and a 200-day simple moving average of $41.55. Tapestry, Inc. has a 1 year low of $25.99 and a 1 year high of $48.80.

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

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, June 7th. This represents a $1.40 annualized dividend and a yield of 3.31%. Tapestry’s payout ratio is currently 37.04%.

Insider Activity

In other Tapestry news, VP Manesh Dadlani sold 2,500 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $42.23, for a total transaction of $105,575.00. Following the transaction, the vice president now directly owns 37,173 shares of the company’s stock, valued at approximately $1,569,815.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. OTR Global reiterated a “mixed” rating on shares of Tapestry in a research note on Wednesday, April 17th. Argus reissued a “buy” rating and issued a $52.00 price target on shares of Tapestry in a report on Tuesday, June 18th. Robert W. Baird reduced their price objective on shares of Tapestry from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. JPMorgan Chase & Co. lowered their target price on shares of Tapestry from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Finally, StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $48.53.

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.