Kessler Investment Group LLC reduced its holdings in shares of Tapestry Inc (NYSE:TPR) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,119 shares of the luxury accessories retailer’s stock after selling 949 shares during the quarter. Kessler Investment Group LLC’s holdings in Tapestry were worth $524,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Claybrook Capital LLC purchased a new position in shares of Tapestry during the 4th quarter valued at approximately $34,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Tapestry by 1,484.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,213,009 shares of the luxury accessories retailer’s stock valued at $36,000 after buying an additional 1,136,452 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Tapestry by 47.1% during the 4th quarter. Advisory Services Network LLC now owns 1,374 shares of the luxury accessories retailer’s stock valued at $46,000 after buying an additional 440 shares during the last quarter. Pearl River Capital LLC purchased a new position in shares of Tapestry during the 4th quarter valued at approximately $66,000. Finally, Moody National Bank Trust Division boosted its stake in shares of Tapestry by 21.2% during the 4th quarter. Moody National Bank Trust Division now owns 2,096 shares of the luxury accessories retailer’s stock valued at $70,000 after buying an additional 366 shares during the last quarter. Institutional investors own 90.87% of the company’s stock.
Several equities research analysts recently issued reports on TPR shares. MKM Partners dropped their price target on Tapestry to $52.00 in a research report on Monday, February 11th. Needham & Company LLC dropped their price target on Tapestry to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 8th. Guggenheim reissued a “buy” rating and set a $52.00 price target on shares of Tapestry in a research report on Tuesday, January 29th. Canaccord Genuity reissued a “buy” rating and set a $58.00 price target on shares of Tapestry in a research report on Tuesday, February 5th. Finally, Barclays set a $41.00 price target on Tapestry and gave the company a “buy” rating in a research report on Saturday, February 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the stock. Tapestry has a consensus rating of “Buy” and a consensus price target of $49.75.
Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 7th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.04). Tapestry had a return on equity of 23.84% and a net margin of 12.18%. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business earned $1.07 earnings per share. Tapestry’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts expect that Tapestry Inc will post 2.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.3375 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.35 annualized dividend and a dividend yield of 4.21%. Tapestry’s payout ratio is 51.33%.
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Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.
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