Affinity Investment Advisors LLC Has $1.11 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Affinity Investment Advisors LLC trimmed its stake in Tapestry, Inc. (NYSE:TPRFree Report) by 16.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,267 shares of the luxury accessories retailer’s stock after selling 5,974 shares during the period. Affinity Investment Advisors LLC’s holdings in Tapestry were worth $1,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. acquired a new stake in Tapestry during the fourth quarter worth about $117,000. FDx Advisors Inc. increased its position in shares of Tapestry by 34.5% during the third quarter. FDx Advisors Inc. now owns 8,735 shares of the luxury accessories retailer’s stock valued at $251,000 after purchasing an additional 2,240 shares during the period. Raymond James Financial Services Advisors Inc. raised 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 valued at $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 fourth quarter worth $1,107,000. Finally, Assenagon Asset Management S.A. lifted its position in Tapestry by 189.5% in the third quarter. Assenagon Asset Management S.A. now owns 228,045 shares of the luxury accessories retailer’s stock worth $6,556,000 after purchasing an additional 149,268 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of TPR traded down $0.11 during midday trading on Tuesday, reaching $42.35. The stock had a trading volume of 2,391,748 shares, compared to its average volume of 3,800,205. The firm has a market cap of $9.73 billion, a PE ratio of 11.24, a P/E/G ratio of 0.87 and a beta of 1.61. The firm has a 50 day simple moving average of $42.91 and a 200-day simple moving average of $39.50. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The company has a current ratio of 6.59, a quick ratio of 5.98 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPRGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Tapestry had a return on equity of 39.78% and a net margin of 13.15%. Tapestry’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.78 earnings per share. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.22 EPS for the current year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Friday, June 7th. Tapestry’s dividend payout ratio (DPR) is presently 37.04%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TPR. JPMorgan Chase & Co. dropped their price objective on shares of Tapestry from $56.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Robert W. Baird dropped their target price on Tapestry from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Raymond James boosted their price target on Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, Wells Fargo & Company raised their price objective on shares of Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.31.

Read Our Latest Analysis on Tapestry

Tapestry Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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