Invesco Ltd. Reduces Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Invesco Ltd. decreased its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 28.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,443,538 shares of the luxury accessories retailer's stock after selling 1,401,573 shares during the quarter. Invesco Ltd. owned approximately 1.48% of Tapestry worth $224,966,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Venturi Wealth Management LLC grew its position in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after purchasing an additional 252 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Tapestry by 72.9% in the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock worth $77,000 after buying an additional 496 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Tapestry by 1,792.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock worth $78,000 after buying an additional 1,129 shares in the last quarter. Atlas Capital Advisors Inc. increased its position in Tapestry by 527.2% during the 4th quarter. Atlas Capital Advisors Inc. now owns 1,267 shares of the luxury accessories retailer's stock valued at $83,000 after purchasing an additional 1,065 shares during the period. Finally, Resona Asset Management Co. Ltd. purchased a new position in Tapestry during the fourth quarter valued at approximately $95,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TPR shares. StockNews.com downgraded shares of Tapestry from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Wells Fargo & Company upped their target price on Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. The Goldman Sachs Group raised their target price on Tapestry from $72.00 to $98.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Morgan Stanley reaffirmed an "equal weight" rating and set a $65.00 target price on shares of Tapestry in a report on Tuesday, January 21st. Finally, Evercore ISI upped their price objective on shares of Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $77.63.

Tapestry Price Performance

NYSE TPR traded up $0.13 during trading hours on Tuesday, hitting $63.91. 3,841,947 shares of the company's stock traded hands, compared to its average volume of 4,173,673. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The firm's 50-day moving average is $75.62 and its 200-day moving average is $64.93. The company has a market capitalization of $13.23 billion, a PE ratio of 18.52, a PEG ratio of 2.01 and a beta of 1.37. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same period last year, the company earned $1.63 earnings per share. Equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's dividend payout ratio is presently 40.58%.

Insider Buying and Selling

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the completion of the transaction, the chief financial officer now owns 146,587 shares in the company, valued at $12,688,570.72. The trade was a 14.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Todd Kahn sold 7,786 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the completion of the sale, the chief executive officer now owns 201,531 shares in the company, valued at $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is currently owned by insiders.

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.