CX Institutional Sells 64,921 Shares of Tapestry, Inc. (NYSE:TPR)

CX Institutional decreased its position in Tapestry, Inc. (NYSE:TPR) by 90.4% during the third quarter, HoldingsChannel.com reports. The firm owned 6,894 shares of the luxury accessories retailer’s stock after selling 64,921 shares during the quarter. CX Institutional’s holdings in Tapestry were worth $324,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new position in Tapestry in the first quarter worth about $35,000. BNP Paribas bought a new stake in shares of Tapestry in the first quarter worth approximately $38,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Tapestry by 54.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after purchasing an additional 328 shares during the last quarter. Blue Trust Inc. lifted its position in Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after purchasing an additional 556 shares during the period. Finally, MUFG Securities EMEA plc boosted its holdings in Tapestry by 34.9% in the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after purchasing an additional 317 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. UBS Group decreased their target price on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Telsey Advisory Group reissued an “outperform” rating and issued a $54.00 target price on shares of Tapestry in a report on Thursday, August 15th. JPMorgan Chase & Co. cut their price target on Tapestry from $54.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Citigroup dropped their price objective on shares of Tapestry from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Evercore ISI reduced their target price on shares of Tapestry from $53.00 to $47.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.07.

Tapestry Trading Down 0.6 %

Shares of Tapestry stock opened at $45.18 on Friday. The company has a market capitalization of $10.38 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.67 and a beta of 1.53. The company has a fifty day moving average of $42.73 and a 200 day moving average of $41.86. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Tapestry, Inc. will post 4.47 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.40 annualized dividend and a dividend yield of 3.10%. Tapestry’s dividend payout ratio (DPR) is presently 37.04%.

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.