Retireful LLC Reduces Holdings in Tapestry, Inc. (NYSE:TPR)

Retireful LLC reduced its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 17.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,401 shares of the luxury accessories retailer's stock after selling 3,904 shares during the period. Tapestry makes up about 1.3% of Retireful LLC's holdings, making the stock its 23rd largest position. Retireful LLC's holdings in Tapestry were worth $1,293,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TPR. Coppell Advisory Solutions LLC boosted its position in Tapestry by 40.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Tapestry by 1.9% during the 4th quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer's stock worth $580,000 after buying an additional 163 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Tapestry by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer's stock worth $104,000 after buying an additional 182 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Tapestry by 25.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock valued at $68,000 after acquiring an additional 194 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its stake in Tapestry by 1.6% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer's stock valued at $833,000 after acquiring an additional 200 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TPR. UBS Group upped their price target on shares of Tapestry from $68.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Morgan Stanley raised Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 target price on the stock in a research note on Thursday, May 8th. Guggenheim increased their target price on Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a report on Friday, February 7th. Redburn Atlantic raised Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target for the company in a research report on Tuesday, February 18th. Finally, Raymond James restated an "outperform" rating and issued a $85.00 price objective (up from $74.00) on shares of Tapestry in a research report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and an average target price of $83.89.

Tapestry Trading Down 0.3%

Shares of TPR traded down $0.22 during mid-day trading on Friday, hitting $79.00. The company had a trading volume of 2,406,856 shares, compared to its average volume of 4,254,741. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $90.85. The business's 50-day simple moving average is $72.52 and its 200-day simple moving average is $71.70. The stock has a market cap of $16.41 billion, a PE ratio of 22.90, a P/E/G ratio of 2.01 and a beta of 1.46. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $0.81 earnings per share. Tapestry's revenue was up 6.9% on a year-over-year basis. Sell-side analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, June 6th. This represents a $1.40 annualized dividend and a yield of 1.77%. Tapestry's dividend payout ratio is presently 36.84%.

Insider Transactions at Tapestry

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $81.40, for a total transaction of $3,256,000.00. Following the transaction, the chief executive officer now owns 116,062 shares in the company, valued at $9,447,446.80. The trade was a 25.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Manesh Dadlani sold 1,399 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $81.88, for a total value of $114,550.12. Following the completion of the sale, the vice president now directly owns 40,922 shares of the company's stock, valued at $3,350,693.36. The trade was a 3.31% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

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.