Smith Graham & Co. Investment Advisors LP Sells 13,028 Shares of Tapestry, Inc. (NYSE:TPR)

Smith Graham & Co. Investment Advisors LP decreased its position in Tapestry, Inc. (NYSE:TPRFree Report) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,327 shares of the luxury accessories retailer’s stock after selling 13,028 shares during the period. Smith Graham & Co. Investment Advisors LP’s holdings in Tapestry were worth $4,687,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Custom Index Systems LLC bought a new position in Tapestry in the 4th quarter worth about $372,000. Kendall Capital Management bought a new position in Tapestry during the 4th quarter valued at about $278,000. Sequoia Financial Advisors LLC bought a new position in Tapestry during the 4th quarter valued at about $218,000. International Assets Investment Management LLC lifted its stake in Tapestry by 3,326.2% during the 4th quarter. International Assets Investment Management LLC now owns 111,350 shares of the luxury accessories retailer’s stock valued at $4,099,000 after acquiring an additional 108,100 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Tapestry by 71.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,066 shares of the luxury accessories retailer’s stock valued at $3,168,000 after acquiring an additional 35,991 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 1.6 %

Tapestry stock opened at $41.14 on Friday. The firm has a 50 day moving average of $45.56 and a 200 day moving average of $37.08. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 10.39, a P/E/G ratio of 0.86 and a beta of 1.57. Tapestry, Inc. has a 12-month low of $25.99 and a 12-month high of $48.80. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90.

Tapestry (NYSE:TPRGet Free Report) last released its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.17. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the prior year, the firm posted $1.36 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts predict that Tapestry, Inc. will post 4.25 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Thursday, March 7th. Tapestry’s dividend payout ratio (DPR) is currently 35.35%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Telsey Advisory Group restated an “outperform” rating and set a $54.00 target price on shares of Tapestry in a research note on Wednesday, March 27th. Evercore ISI upgraded shares of Tapestry from an “in-line” rating to an “outperform” rating and upped their target price for the company from $30.00 to $50.00 in a research note on Monday, February 5th. TheStreet raised shares of Tapestry from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Wells Fargo & Company upped their price target on shares of Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Finally, Raymond James upped their price target on shares of Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Tapestry has an average rating of “Moderate Buy” and an average price target of $47.81.

View Our Latest Research Report 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.

See Also

Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry, Inc. (NYSE:TPRFree Report).

Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.