Tapestry, Inc. (NYSE:TPR) Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. cut its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 18.1% in the 4th quarter, Holdings Channel reports. The firm owned 17,449 shares of the luxury accessories retailer’s stock after selling 3,852 shares during the period. Legacy Capital Group California Inc.’s holdings in Tapestry were worth $1,140,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TPR. Handelsbanken Fonder AB lifted its position in shares of Tapestry by 1.3% during the 4th quarter. Handelsbanken Fonder AB now owns 60,146 shares of the luxury accessories retailer’s stock valued at $3,929,000 after acquiring an additional 800 shares during the last quarter. Ieq Capital LLC raised its position in shares of Tapestry by 95.8% during the fourth quarter. Ieq Capital LLC now owns 64,779 shares of the luxury accessories retailer’s stock worth $4,232,000 after purchasing an additional 31,695 shares during the period. Kestra Investment Management LLC raised its position in shares of Tapestry by 14.6% during the fourth quarter. Kestra Investment Management LLC now owns 21,530 shares of the luxury accessories retailer’s stock worth $1,407,000 after purchasing an additional 2,736 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in shares of Tapestry during the fourth quarter valued at $340,000. Finally, GAM Holding AG acquired a new position in shares of Tapestry in the 4th quarter valued at $10,512,000. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TPR. Bank of America boosted their price objective on Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 25th. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Citigroup raised their price objective on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Daiwa America raised shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. Finally, Telsey Advisory Group raised their target price on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.53.

Tapestry Price Performance

Shares of TPR opened at $86.65 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The firm has a market cap of $17.94 billion, a PE ratio of 25.12, a PEG ratio of 2.07 and a beta of 1.58. The firm’s 50 day moving average price is $72.21 and its 200 day moving average price is $56.14. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the prior year, the company posted $1.63 EPS. As a group, research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.62%. Tapestry’s dividend payout ratio is currently 40.58%.

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.