Camelot Portfolios LLC Sells 875 Shares of Tapestry, Inc. (NYSE:TPR)

Camelot Portfolios LLC lessened its holdings in Tapestry, Inc. (NYSE:TPR) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,804 shares of the luxury accessories retailer’s stock after selling 875 shares during the period. Camelot Portfolios LLC’s holdings in Tapestry were worth $575,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TPR. Charles Schwab Investment Management Inc. grew its position in shares of Tapestry by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after buying an additional 272,007 shares during the period. Pacer Advisors Inc. boosted its position in shares of Tapestry by 1.0% during the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock valued at $285,580,000 after buying an additional 58,135 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Tapestry by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock worth $262,156,000 after acquiring an additional 80,681 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of Tapestry by 16.4% during the 4th quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer’s stock worth $138,596,000 after buying an additional 298,409 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after acquiring an additional 219,544 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Down 2.2 %

Shares of NYSE TPR opened at $84.60 on Friday. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The firm has a market capitalization of $17.51 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 2.07 and a beta of 1.58. The stock has a 50 day moving average price of $72.63 and a 200 day moving average price of $56.48. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period in the previous year, the business posted $1.63 earnings per share. Sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.65%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TPR shares. Citigroup lifted their price objective on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. The Goldman Sachs Group upped 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, February 7th. Raymond James reaffirmed an “outperform” rating and set a $88.00 price target (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Tuesday. Finally, Evercore ISI raised their price target on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.53.

Insider Activity at Tapestry

In other news, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the sale, the general counsel now directly owns 38,609 shares of the company’s stock, valued at $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.18% of the stock is currently owned by corporate insiders.

About Tapestry

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.