Tapestry, Inc. (NYSE:TPR) Holdings Decreased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust reduced its stake in shares of Tapestry, Inc. (NYSE:TPR) by 14.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,574 shares of the luxury accessories retailer’s stock after selling 269 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Tapestry were worth $58,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TPR. Bell Investment Advisors Inc grew its holdings in Tapestry by 718.1% during the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after acquiring an additional 833 shares during the period. AllSquare Wealth Management LLC grew its holdings in Tapestry by 35.1% during the third 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 during the period. Allworth Financial LP grew its holdings in Tapestry by 62.0% during the fourth quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer’s stock worth $60,000 after acquiring an additional 620 shares during the period. Wolverine Asset Management LLC acquired a new position in Tapestry during the third quarter worth about $63,000. Finally, Bryn Mawr Capital Management LLC acquired a new position in Tapestry during the third quarter worth about $68,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TPR. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Evercore ISI raised Tapestry from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $30.00 to $50.00 in a research note on Monday, February 5th. Wells Fargo & Company lifted their price target on Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Jefferies Financial Group cut Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group lifted their price target on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.81.

Tapestry Trading Up 1.7 %

Shares of NYSE TPR opened at $40.05 on Friday. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The firm has a market capitalization of $9.19 billion, a PE ratio of 10.11, a PEG ratio of 0.82 and a beta of 1.57. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90. The business has a 50-day moving average price of $45.04 and a two-hundred day moving average price of $37.92.

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

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.50%. Tapestry’s dividend payout ratio is 35.35%.

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.