Tapestry, Inc. (NYSE:TPR) Holdings Lowered by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. cut its holdings in Tapestry, Inc. (NYSE:TPR) by 68.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 643 shares of the luxury accessories retailer’s stock after selling 1,403 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Tapestry were worth $30,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Pacer Advisors Inc. grew its position in Tapestry by 53.1% during the 2nd quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock worth $257,623,000 after purchasing an additional 2,087,586 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of Tapestry during the 1st quarter valued at $54,055,000. AQR Capital Management LLC boosted its position in Tapestry by 235.9% during the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock valued at $61,578,000 after purchasing an additional 1,051,743 shares during the last quarter. Coronation Fund Managers Ltd. grew its stake in Tapestry by 265.1% in the second quarter. Coronation Fund Managers Ltd. now owns 1,044,641 shares of the luxury accessories retailer’s stock valued at $44,700,000 after purchasing an additional 758,539 shares in the last quarter. Finally, Swedbank AB increased its position in Tapestry by 206.5% in the 2nd quarter. Swedbank AB now owns 999,802 shares of the luxury accessories retailer’s stock worth $42,782,000 after purchasing an additional 673,655 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of TPR stock opened at $45.15 on Monday. The business’s fifty day moving average is $42.87 and its 200 day moving average is $41.81. Tapestry, Inc. has a twelve month low of $25.99 and a twelve month high of $48.80. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 1.67 and a beta of 1.53. The company has a quick ratio of 4.66, a current ratio of 5.14 and a debt-to-equity ratio of 2.39.

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

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Friday, September 6th. Tapestry’s payout ratio is 37.04%.

Analysts Set New Price Targets

A number of research analysts have weighed in on TPR shares. UBS Group cut their target price on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. StockNews.com upgraded shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Wednesday, September 25th. Citigroup dropped their price objective on shares of Tapestry from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Telsey Advisory Group reissued an “outperform” rating and set a $54.00 price target on shares of Tapestry in a research note on Thursday, August 15th. Finally, Evercore ISI dropped their price objective on Tapestry from $53.00 to $47.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.07.

About Tapestry

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.