Los Angeles Capital Management LLC Sells 138,778 Shares of Tapestry, Inc. (NYSE:TPR)

Los Angeles Capital Management LLC cut its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 35.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 257,562 shares of the luxury accessories retailer's stock after selling 138,778 shares during the quarter. Los Angeles Capital Management LLC owned 0.11% of Tapestry worth $11,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC boosted its position in shares of Tapestry by 0.9% during the 1st quarter. CWM LLC now owns 26,859 shares of the luxury accessories retailer's stock valued at $1,275,000 after acquiring an additional 237 shares in the last quarter. Mather Group LLC. boosted its holdings in Tapestry by 12.9% during the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer's stock valued at $104,000 after purchasing an additional 249 shares in the last quarter. Legend Financial Advisors Inc. grew its stake in shares of Tapestry by 1.9% in the 2nd quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer's stock valued at $581,000 after purchasing an additional 257 shares during the period. Empirical Finance LLC raised its holdings in shares of Tapestry by 3.3% in the 1st quarter. Empirical Finance LLC now owns 8,742 shares of the luxury accessories retailer's stock worth $415,000 after buying an additional 276 shares in the last quarter. Finally, MUFG Securities EMEA plc lifted its position in shares of Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer's stock worth $52,000 after buying an additional 317 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Tapestry Trading Up 2.3 %

Tapestry stock traded up $0.93 during mid-day trading on Monday, hitting $41.29. The stock had a trading volume of 4,204,694 shares, compared to its average volume of 3,310,467. The stock has a 50-day simple moving average of $40.39 and a two-hundred day simple moving average of $42.28. The company has a current ratio of 5.14, a quick ratio of 4.66 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $9.51 billion, a PE ratio of 10.92, a P/E/G ratio of 1.50 and a beta of 1.54. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $48.80.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the previous year, the company earned $0.95 EPS. Tapestry's revenue was down 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.47 EPS for the current year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Friday, September 6th. Tapestry's dividend payout ratio (DPR) is currently 37.04%.

Analyst Ratings Changes

A number of analysts have weighed in on TPR shares. Argus reiterated a "buy" rating and issued a $52.00 price target on shares of Tapestry in a research report on Tuesday, June 18th. UBS Group lowered their target price on shares of Tapestry from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Friday, August 16th. Evercore ISI reduced their price target on shares of Tapestry from $53.00 to $47.00 and set an "outperform" rating on the stock in a research report on Friday, August 9th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $54.00 price objective on shares of Tapestry in a research note on Thursday, August 15th. Finally, Citigroup dropped their price objective on shares of Tapestry from $50.00 to $49.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Tapestry currently has an average rating of "Moderate Buy" and an average price target of $46.13.

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.