Cantor Fitzgerald Investment Advisors L.P. Cuts Holdings in Tapestry, Inc. (NYSE:TPR)

Cantor Fitzgerald Investment Advisors L.P. cut its holdings in Tapestry, Inc. (NYSE:TPR) by 31.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,064 shares of the luxury accessories retailer’s stock after selling 142,004 shares during the quarter. Tapestry accounts for 1.4% of Cantor Fitzgerald Investment Advisors L.P.’s portfolio, making the stock its 17th biggest holding. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Tapestry were worth $20,387,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of Tapestry by 7.5% during the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock worth $20,381,000 after purchasing an additional 30,121 shares during the period. Assenagon Asset Management S.A. purchased a new position in Tapestry in the third quarter valued at about $5,446,000. Valley Wealth Managers Inc. lifted its position in shares of Tapestry by 2.1% during the 3rd quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock valued at $19,971,000 after acquiring an additional 8,833 shares during the period. Decker Retirement Planning Inc. purchased a new stake in shares of Tapestry during the 4th quarter worth approximately $3,437,000. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Tapestry by 14.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after acquiring an additional 219,544 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on TPR. Jefferies Financial Group boosted their target price on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group boosted their price objective on shares of Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com upgraded shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Barclays upped their price target on Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.17.

Tapestry Price Performance

NYSE:TPR opened at $80.28 on Friday. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $87.87. The company’s 50-day moving average price is $68.08 and its two-hundred day moving average price is $53.27. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The firm has a market cap of $18.71 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 36.26% and a net margin of 12.12%. During the same period in the previous year, the company posted $1.63 earnings per share. On average, equities analysts anticipate that Tapestry, Inc. will post 4.63 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be given a $0.35 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.74%. Tapestry’s dividend payout ratio is presently 40.46%.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the sale, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.18% of the stock is currently owned by company insiders.

Tapestry Company 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.