Tapestry, Inc. (NYSE:TPR) Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB cut its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 70.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,074 shares of the luxury accessories retailer's stock after selling 5,020 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Tapestry were worth $135,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in shares of Tapestry by 7.5% in the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer's stock valued at $20,381,000 after purchasing an additional 30,121 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Tapestry in the 3rd quarter valued at $5,446,000. Valley Wealth Managers Inc. raised its holdings in shares of Tapestry by 2.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer's stock valued at $19,971,000 after purchasing an additional 8,833 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in shares of Tapestry in the 4th quarter valued at $3,437,000. Finally, Westfield Capital Management Co. LP raised its holdings in shares of Tapestry by 14.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer's stock valued at $79,822,000 after purchasing an additional 219,544 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Performance

Shares of NYSE:TPR traded up $1.04 during midday trading on Friday, hitting $87.68. The stock had a trading volume of 4,819,117 shares, compared to its average volume of 4,970,739. The company has a market capitalization of $20.43 billion, a PE ratio of 25.41, a P/E/G ratio of 2.30 and a beta of 1.58. The stock has a 50 day moving average price of $70.11 and a two-hundred day moving average price of $55.00. The company has a current ratio of 1.58, a quick ratio of 4.38 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $88.07.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating the consensus estimate 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 in the previous year, the business earned $1.63 earnings per share. As a group, equities analysts predict that Tapestry, Inc. will post 4.7 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is 40.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TPR shares. Evercore ISI raised their price objective on shares of Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a report on Monday, January 27th. The Goldman Sachs Group increased their target price on shares of Tapestry from $72.00 to $98.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Bank of America increased their target price on shares of Tapestry from $52.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Robert W. Baird raised their price objective on shares of Tapestry from $58.00 to $64.00 and gave the stock an "outperform" rating in a research report on Friday, November 15th. Finally, Guggenheim raised their price objective on shares of Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $74.78.

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.