Yousif Capital Management LLC Reduces Position in Tapestry, Inc. (NYSE:TPR)

Yousif Capital Management LLC decreased its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 10.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,110 shares of the luxury accessories retailer's stock after selling 3,981 shares during the period. Yousif Capital Management LLC's holdings in Tapestry were worth $2,472,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TPR. Greenline Partners LLC purchased a new position in Tapestry in the 4th quarter valued at approximately $29,000. Coppell Advisory Solutions LLC grew its position in shares of Tapestry by 40.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock valued at $38,000 after purchasing an additional 252 shares during the period. Canada Post Corp Registered Pension Plan bought a new stake in shares of Tapestry during the 4th quarter valued at $48,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Tapestry by 25.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock worth $68,000 after purchasing an additional 194 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

TPR has been the topic of several analyst reports. Robert W. Baird upped their price target on Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Redburn Atlantic raised shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 target price on the stock in a report on Tuesday, February 18th. Barclays increased their target price on shares of Tapestry from $83.00 to $98.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. TD Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price target for the company in a research report on Thursday. Finally, Citigroup increased their price objective on Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $86.56.

Tapestry Price Performance

Shares of Tapestry stock opened at $78.88 on Friday. The firm has a market capitalization of $16.38 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The business's 50-day moving average price is $74.16 and its 200-day moving average price is $72.69.

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

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.77%. Tapestry's dividend payout ratio is currently 36.84%.

Insider Activity

In other Tapestry news, VP Manesh Dadlani sold 1,399 shares of Tapestry stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $81.88, for a total value of $114,550.12. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Kahn sold 40,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $81.40, for a total value of $3,256,000.00. Following the completion of the sale, the chief executive officer now owns 116,062 shares of the company's stock, valued at $9,447,446.80. The trade was a 25.63% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by corporate insiders.

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.

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