RWC Asset Management LLP Has $52.61 Million Stock Position in Tapestry, Inc. (NYSE:TPR)

RWC Asset Management LLP lessened its position in shares of Tapestry, Inc. (NYSE:TPR) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,429,309 shares of the luxury accessories retailer’s stock after selling 81,263 shares during the period. Tapestry comprises 3.2% of RWC Asset Management LLP’s holdings, making the stock its 7th largest position. RWC Asset Management LLP’s holdings in Tapestry were worth $52,613,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. increased its holdings in Tapestry by 5.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 5,463 shares of the luxury accessories retailer’s stock worth $157,000 after purchasing an additional 297 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in Tapestry by 0.3% during the 3rd quarter. Treasurer of the State of North Carolina now owns 109,837 shares of the luxury accessories retailer’s stock worth $3,158,000 after purchasing an additional 353 shares in the last quarter. Sowell Financial Services LLC increased its holdings in Tapestry by 2.1% during the 3rd quarter. Sowell Financial Services LLC now owns 18,348 shares of the luxury accessories retailer’s stock worth $527,000 after purchasing an additional 381 shares in the last quarter. AllSquare Wealth Management LLC increased its holdings in Tapestry by 35.1% during the 3rd quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock worth $47,000 after purchasing an additional 423 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in Tapestry by 23.1% during the 4th quarter. Federated Hermes Inc. now owns 2,648 shares of the luxury accessories retailer’s stock worth $97,000 after purchasing an additional 497 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

TPR stock traded up $0.66 during mid-day trading on Friday, hitting $40.05. 3,329,580 shares of the company were exchanged, compared to its average volume of 4,049,072. The business has a 50 day simple moving average of $45.04 and a 200-day simple moving average of $37.92. 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 stock has a market capitalization of $9.19 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.81 and a beta of 1.57. Tapestry, Inc. has a 1-year low of $25.99 and a 1-year high of $48.80.

Tapestry (NYSE:TPR) last issued 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 during the quarter, compared to the consensus estimate of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $1.36 earnings per share. On average, equities analysts forecast that Tapestry, Inc. will post 4.23 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given 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 3.50%. Tapestry’s dividend payout ratio (DPR) is presently 35.35%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TPR. Wells Fargo & Company raised their price objective on Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Jefferies Financial Group cut 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. Telsey Advisory Group restated an “outperform” rating and issued a $54.00 price objective on shares of Tapestry in a report on Wednesday, March 27th. Raymond James raised their price objective on Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Finally, Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $30.00 to $50.00 in a report on Monday, February 5th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $47.81.

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.