Tapestry, Inc. (NYSE:TPR) Stock Holdings Trimmed by Qsemble Capital Management LP

Qsemble Capital Management LP decreased its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 78.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,530 shares of the luxury accessories retailer's stock after selling 23,687 shares during the period. Qsemble Capital Management LP's holdings in Tapestry were worth $279,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. MGO One Seven LLC grew its position in shares of Tapestry by 1.8% in the second quarter. MGO One Seven LLC now owns 67,529 shares of the luxury accessories retailer's stock valued at $2,890,000 after purchasing an additional 1,195 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Tapestry by 22.4% in the second quarter. Daiwa Securities Group Inc. now owns 9,239 shares of the luxury accessories retailer's stock valued at $395,000 after purchasing an additional 1,691 shares during the period. Choreo LLC purchased a new stake in shares of Tapestry in the second quarter valued at $242,000. Paralel Advisors LLC purchased a new stake in shares of Tapestry in the second quarter valued at $2,057,000. Finally, Gallacher Capital Management LLC purchased a new stake in shares of Tapestry in the second quarter valued at $705,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Stock Up 1.7 %

Shares of NYSE:TPR traded up $0.72 during trading on Friday, hitting $42.76. The company's stock had a trading volume of 1,949,461 shares, compared to its average volume of 3,285,002. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80. The stock's 50-day moving average price is $40.52 and its two-hundred day moving average price is $42.11. The company has a market capitalization of $9.84 billion, a PE ratio of 11.31, a PEG ratio of 1.55 and a beta of 1.54.

Tapestry (NYSE:TPR - Get Free Report) last released 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 return on equity of 37.22% and a net margin of 12.23%. The business had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company's revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that Tapestry, Inc. will post 4.47 EPS for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Friday, September 6th. Tapestry's dividend payout ratio is currently 37.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $54.00 price objective on shares of Tapestry in a research report on Thursday, August 15th. Citigroup lowered their price target on Tapestry from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lowered their price target on Tapestry from $54.00 to $51.00 and set an "overweight" rating for the company in a research report on Friday, August 16th. Evercore ISI lowered their price target on Tapestry from $53.00 to $47.00 and set an "outperform" rating for the company in a research report on Friday, August 9th. Finally, UBS Group lowered their price target on Tapestry from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.07.

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.