Tapestry, Inc. (NYSE:TPR) Stake Lessened by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. lessened its stake in Tapestry, Inc. (NYSE:TPR) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 206,824 shares of the luxury accessories retailer’s stock after selling 584 shares during the period. ZWJ Investment Counsel Inc. owned about 0.09% of Tapestry worth $7,613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. increased its stake in shares of Tapestry by 340.7% in the first quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer’s stock worth $25,000 after buying an additional 511 shares during the last quarter. Alpha Paradigm Partners LLC acquired a new position in shares of Tapestry during the third quarter valued at $26,000. Bell Investment Advisors Inc boosted its holdings in shares of Tapestry by 718.1% during the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock valued at $27,000 after acquiring an additional 833 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Tapestry by 955.8% during the first quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock valued at $41,000 after acquiring an additional 994 shares during the period. Finally, Quarry LP lifted its holdings in Tapestry by 100.8% in the second quarter. Quarry LP now owns 968 shares of the luxury accessories retailer’s stock worth $41,000 after purchasing an additional 127,311 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Up 0.3 %

NYSE TPR traded up $0.13 on Friday, hitting $40.63. 3,467,495 shares of the company were exchanged, compared to its average volume of 3,757,535. The company’s 50 day moving average price is $45.49 and its 200-day moving average price is $37.51. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68. The firm has a market capitalization of $9.32 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 0.83 and a beta of 1.57. Tapestry, Inc. has a twelve month low of $25.99 and a twelve month high of $48.80.

Tapestry (NYSE:TPR) last posted its quarterly earnings data 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. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.36 EPS. Analysts predict that Tapestry, Inc. will post 4.25 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.40 annualized dividend and a yield of 3.45%. Tapestry’s dividend payout ratio (DPR) is presently 35.35%.

Analyst Ratings Changes

Several research firms recently weighed in on TPR. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a report on Thursday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of Tapestry in a report on Wednesday, March 27th. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Thursday, February 29th. Raymond James upped their price objective on shares of Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Finally, The Goldman Sachs Group upped their price objective on shares of Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Tapestry 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.