Todd Asset Management LLC Has $17.53 Million Stake in Tapestry, Inc. (NYSE:TPR)

Todd Asset Management LLC lowered its position in Tapestry, Inc. (NYSE:TPR) by 22.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 476,351 shares of the luxury accessories retailer’s stock after selling 140,473 shares during the period. Todd Asset Management LLC owned 0.21% of Tapestry worth $17,534,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bell Investment Advisors Inc raised its holdings in shares of Tapestry by 718.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock valued at $27,000 after purchasing an additional 833 shares in the last quarter. AllSquare Wealth Management LLC boosted its stake in shares of Tapestry by 35.1% during the 3rd quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock worth $47,000 after acquiring an additional 423 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Tapestry by 56.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock valued at $53,000 after acquiring an additional 668 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Tapestry by 334.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,504 shares of the luxury accessories retailer’s stock valued at $55,000 after acquiring an additional 1,158 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Tapestry by 62.0% in the 4th quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer’s stock worth $60,000 after purchasing an additional 620 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

NYSE:TPR traded up $0.45 during trading hours on Friday, reaching $39.24. The company had a trading volume of 3,309,937 shares, compared to its average volume of 4,157,360. The firm has a market capitalization of $9.00 billion, a PE ratio of 9.91, a PEG ratio of 0.80 and a beta of 1.61. The stock has a 50-day moving average of $44.29 and a two-hundred day moving average of $38.34. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $1.36 EPS. Analysts forecast that Tapestry, Inc. will post 4.23 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.57%. Tapestry’s dividend payout ratio is 35.35%.

Analyst Ratings Changes

A number of equities analysts have recently commented on TPR shares. Telsey Advisory Group reissued an “outperform” rating and issued a $54.00 price target on shares of Tapestry in a research report on Wednesday, March 27th. The Goldman Sachs Group upped their price target on shares of Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a report on Friday, February 9th. Jefferies Financial Group lowered Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Thursday, February 29th. Wells Fargo & Company increased their target price on Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.81.

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.