Algert Global LLC Sells 41,366 Shares of Tapestry, Inc. (NYSE:TPR)

Algert Global LLC decreased its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 51.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,414 shares of the luxury accessories retailer's stock after selling 41,366 shares during the quarter. Algert Global LLC's holdings in Tapestry were worth $1,644,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Capital Research Global Investors lifted its position in Tapestry by 8.5% in the 1st quarter. Capital Research Global Investors now owns 6,238,670 shares of the luxury accessories retailer's stock valued at $296,212,000 after purchasing an additional 489,933 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Tapestry by 53.1% during the second quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer's stock worth $257,623,000 after buying an additional 2,087,586 shares during the period. Dimensional Fund Advisors LP increased its position in Tapestry by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer's stock valued at $151,965,000 after acquiring an additional 165,406 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Tapestry in the 4th quarter valued at approximately $102,531,000. Finally, Bank of New York Mellon Corp raised its stake in Tapestry by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer's stock valued at $116,928,000 after acquiring an additional 46,760 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Tapestry Trading Up 1.6 %

TPR traded up $0.75 during trading on Friday, reaching $46.50. The company had a trading volume of 2,201,032 shares, compared to its average volume of 3,239,393. The firm's 50-day simple moving average is $41.39 and its 200 day simple moving average is $41.97. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.64 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 released its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the business earned $0.95 earnings per share. The firm's revenue was down 1.8% compared to the same quarter last year. Equities research analysts anticipate that Tapestry, Inc. will post 4.47 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Friday, September 6th. Tapestry's payout ratio is 37.04%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TPR. Evercore ISI decreased their price target on Tapestry from $53.00 to $47.00 and set an "outperform" rating for the company in a research note on Friday, August 9th. Argus reissued a "buy" rating and set a $52.00 target price on shares of Tapestry in a research note on Tuesday, June 18th. StockNews.com raised shares of Tapestry from a "hold" rating to a "buy" rating in a research note on Wednesday, September 25th. Wells Fargo & Company lowered their price objective on shares of Tapestry from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, August 16th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $54.00 target price on shares of Tapestry in a research report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $47.07.

About Tapestry

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.